Video and data analytics company Vyntelligence has announced a strategic partnership with energy giant ENGIE’s investment arm, New Ventures.
Vyntelligence’s CEO Kapil Singhal said that ENGIE, which will become a minority owner, was the “ideal partner” for the company’s next stage of growth.
“As we look to grow and enter new markets, this investment and strategic partnership accelerates our efforts to deliver a robust platform and develop an ever expanding list of services across different industries.”
Vyntelligence uses data capture through smart video to help industrial companies gain greater visibility and insights over their assets and operations. The technology allows field engineers to create smart video reports directly on site, which AI is then able to analyse and provide insights that engineers can act on.
Sebastian Vinant, project director of ENGIE’s New Business Factory’s ‘Building as a Service’ Program (BaaS), said: "Field engineers are at the core of our energy activities, Vyntelligence empowers them with innovative applications providing increased efficiency and accuracy of data capture along with an enhanced customer experience through greater visibility.
“Augmented intelligence in the service chain is one of the building blocks in the new business models that we are developing for the upgrade, operations and maintenance of sustainable buildings.”
Vyntelligence is hoping that the investment will allow the company to broaden its product offering and reach a larger market.
Hendrik van Asbroeck, Managing Director, ENGIE New Ventures, added: “Our investment in Vyntelligence aligns with ENGIE's strategy to digitize our activities by adopting innovative solutions across our various energy service businesses.
“Rich data collection and application of AI techniques will enable use cases in predictive services and intervention that can add substantial value across our clients and assets," van Asbroeck went on to say.
ENGIE has made a number of notable moves in the UK energy sector this year, including acquiring public charging provider ChargePoint Services and partnering with Fiat Chrysler Automobiles for the installation of EV charging stations.