Viking Analytics Raises Series A of More Than € 3mn for Global Expansion

• Sweden-based Viking Analytics closed its Series A funding round with the support of Finindus, Industrifonden and ABB.
• This round will allow Viking Analytics to accelerate the development of machine health monitoring solutions.
• Viking Analytics has also secured a commercial agreement with ABB to bring its machine health monitoring solution to ABB’s switchgear products.

Viking Analytics AB, the Swedish company developing AI-based machine health monitoring technology, today announced the closing of its Series A round. Viking Analytics’ Series A round was co-led by Belgium-based Finindus (backed by ArcelorMittal), and Sweden-based Industrifonden with ABB and existing investors also participating in the round.

The company also disclosed it has secured a commercial agreement with ABB for monitoring of their customers’ switchgear products. The investment funds in mobility and smart industrial technologies and the commercial contract serve as recognition of the company’s capabilities and will allow Viking Analytics to accelerate its technological development and scale the commercialization of its solutions.

Dr. Rajet Krishnan, co-founder and CEO of Viking Analytics comments,”We are excited to have closed an oversubscribed round in an unusually tough environment. This investment is a strong testament to our unique value proposition, market position and technology readiness. We believe that our new investors will bring tremendous value with deep industry expertise and networks to our journey in enabling in remote machine health monitoring.” Lets Connect

Starting operations in 2018, Viking Analytics is on a mission to enable every industrial service company (like maintenance companies, OEMs, and system integrators) to monitor more machines reliably. Vikings’ proprietary solution prioritizes the machines that need attention, while providing relevant explanations for the prioritization. Furthermore, experts can provide feedback based on the priority list and recommend actions. With the Viking solution, service companies can offer reliable remote monitoring services with less false alarms and without in-house AI teams. Vikings’ unique approach of augmenting human experts to becoming “super-experts” is steadily gaining market acceptance as proven with more than 20 customers globally.

“Viking Analytics convinced us of their approach to machine health monitoring.”, says Roel Callebaut, Investment Manager at Finindus. “Through numerous conversations with industry experts we understood they are solving the issues that prevented previous predictive maintenance solutions to be used for non-critical assets.”

Karolina Bjurehed, Investment Director at Industrifonden states. “We’re impressed by what the team has accomplished so far and are happy to support this technological development and innovation in the industry. Not only does it enable more efficient control of the product line, but it’s also more sustainable.

Chao Wu, Principal at ABB Technology Ventures expresses, “With the pressure on to ensure uptime and prolong the lifecycle of electrical assets, the partnership allows us to develop analytics that will help customers maintain their operations and cut costs. Customers will get the insights they need to make informed decisions about their electrical equipment fleet and take preventative actions to avoid costly failure. We look forward to continuing our close collaboration with Viking Analytics to further develop and scale new AI software solutions in the future.”

Learn more at www.industrifonden.com
www.abb.com

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Graphene Nanotubes Prevent Static Electricity Buildup in TPU Hoses

• Thermoplastic polyurethane hoses enhanced with graphene nanotubes demonstrate a combination of electrical conductivity, high flexibility, and good abrasion resistance.
• Cost-efficient, durable hoses are already used in the flour-milling, pharmaceutical, and wood processing industries.
• Stable, permanent anti-static properties combined with high performance allow hoses to meet strict industrial requirements.

In various industries with special operating conditions, when dry bulk materials are conveyed by compressed air through a nonconductive hose, there is a risk of the accumulation of electrical charge due to friction. This can lead to sparks, resulting in damage to electronic components, or even fire or explosion. To prevent static electricity buildup and arc discharge, conductive material enhanced with metal wire is used as the key component for the manufacture of this type of conveying hose. Use of traditional conductive agents like carbon black requires high concentrations, which results in detrimental effects on the mechanical properties of the final product, including reduced flexibility.

“Replacement of a standard compound with TPU modified with graphene nanotubes results in stable, homogeneous conductivity of the final hoses, without compromising their strength or flexibility. By adding only 0.4–0.5 wt% of graphene nanotubes, our client was able to obtain thermoplastic polyurethane with resistance of the order of 106 ohm/sq, allowing the hoses to meet the typical requirements of industrial norms related to electrostatic risks. Additionally, graphene nanotubes’ low working dosages make it possible to maintain the abrasion and chemical resistance, flexibility, and non-marking properties of TPU,” said Dr. Christian Maus, development and support leader for thermoplastics, OCSiAl Group.

The nanotube-modified hoses perfectly meet the demands of heavy-duty operating applications, which frequently require a combination of ESD protection and high abrasion resistance and durability. Based on their excellent performance, these industrial TPU hoses can be widely used in pneumatic and aspiration systems for pumping or transporting materials with high abrasive properties, including abrasive powders, sawdust, chopped paper, construction waste, petroleum products, and crushed or granular materials.

www.ocsial.com

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XSYS Reflects on a Successful 2022

After its first full year as an independent entity, XSYS examines the results of its value proposition for the global flexo prepress community and lifts the veil on what comes next.

Over the past year, the central focus for XSYS has been on bringing more brilliance to the flexographic and letterpress prepress industries that it serves. While 2022 presented a turbulent and challenging climate for all businesses, XSYS continued to reinforce its position as a specialized total solutions provider with best-in-class innovations and value-adding services.

“Our relentless drive to support customers with brilliant products and first-class services that provide them with high-quality printing results certainly paid off in 2022. More than 80 new equipment installations have brought plenty of success stories from across the world, despite the many challenges caused by the severe disruptions in supply chains, the rising cost of materials and energy, and the skills shortages,” said Friedrich von Rechteren, Global Commercial Vice President of XSYS.

Driving innovation in flexo

XSYS’ innovations cover the widest gamut of any provider in this competitive space, from printing plates, plate imaging and processing equipment to sleeves and adapters. The ThermoFlexX portfolio of platemaking equipment and solutions delivers increased automation to customers, such as Kirk Group in Australia, who in 2022 boosted overall operating effectiveness with the installation of a ThermoFlexX imager combined with the full Catena+ line. This end-to-end automated solution, in combination with XSYS plates, drives efficiencies and reduces waste, taking platemaking to the next level.

The XSYS offering of printing plates for all packaging segments is also going from strength to strength. The nyloflex FTM Digital flexo plate, developed recently to facilitate the switch from solvent- to water-based printing, was put into production by Saint André Plastique. The French flexible packaging printer immediately saw an excellent opportunity to take advantage of the plate’s superior built-in flat-top dot technology as it moved an additional part of its production to more sustainable paper-based substrates.

Another innovation that gives converters a competitive edge is the ThermoFlexX Woodpecker surface screening technology, which, in 2022, was further extended with the Nevis edition for printing with white inks on film-based substrates. The new Woodpecker Nevis screening improves overall brilliance and helps converters save on costly white inks while speeding up the imaging process.

Sustainability Mind-set

XSYS also used the year to reinforce its dedication to sustainability by introducing waste-saving products and services and developing more environmentally friendly solutions in collaboration with fellow suppliers. During a live webinar in December, the company was part of a group presenting greener solutions for central impression (CI) flexo operations enabled by next-generation technologies. Further proving thispoint, XSYS Germany GmbH received a silver medal rating in 2022 for its sustainability performance from EcoVadis, rated in the top 10% of manufacturing facilities.

Adding value with services and support

Finding new ways to help customers in their daily lives is another fixed item on the agenda for XSYS. Several new value-adding initiatives were introduced in 2022, including the Flexo Solution Finder – a new online tool for faster troubleshooting and instant access to solutions to common issues in flexo print production. It was developed as part of the XSYS strategy to offer more flexibility and agility for customers, with less downtime and better quality.

To combat supply chain problems, XSYS implemented global solutions across its business to help customers succeed in the face of challenging market conditions. One example was in the US, where the manufacturing capabilities for rotec Sleeves and Adapters in Asheville were expanded, meaning customers are now benefitting from more reliable delivery of high-quality products from the full rotec range.

What’s next?

As we just started 2023, XSYS will continue its quest to support customers locally with innovations, solutions and services that allow them to stay ahead of the game. Over the coming months, new plates and plate processing equipment will come to market, geared towards introducing more flexibility and sustainability in flexo production while also delivering top-quality print at competitive cost levels.

Dagmar Schmidt, CEO of XSYS concluded, “First of all, I would like to thank all our customers across the globe for their trust in XSYS. The past year has proved that XSYS is a company in its own right, with solutions that are enabling customers to remain on a successful trajectory. As we kick off 2023, we look forward to launching new technologies, participating in more collaborations, and meeting the packaging community at trade shows and events. Together we can make 2023 a year of growth.”

www.xsysglobal.com

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Mundhra Masterbatches Opens 4th Site in Chennai

New Delhi – Indian masterbatch producers expanding consistently to cater the growing domestic market besides eyeing the growth prospects in the overseas markets of S E Asia, Africa and the Middle East. Mundhra Masterbatches, part of a diversified group, forayed into masterbatch production just over a decade ago in 2011 by establishing first site in Delhi, growing consistently, the second plant sets-up in Delhi again in 2014, followed by third unit in Sonepat (locates in neighboring Northern State of Haryana) in 2018. The Sonepat plant is the biggest facility, spreads over 2-acre area.

Delhi headquartered company has opened the fourth site in the Southern part of the country as part of reaching out to its customer base in the South. “We have opened the fourth unit in Chennai (Capital of Tamil Nadu) to serve our client Samsung. The 10% of the production goes to Samsung and rest to the South Indian market as Southern Indian market itself is a big market for engineering compounds,” said Abhishek Mundhra, Director (Sales), Mundhra Masterbatches. The company now
operates masterbactch producing four sites in merely twelve years of foraying into the vertical.

Commercial production at the Chennai site commenced in the end of August. Invested about ₹70 Million in the first phase, with another ₹60 Million to be invested in the second phase as the orders picks-up in the Southern market. “We made all the investment through internal accruals.”

On exports, Abhishek said, “We were focusing on catering the huge domestic market, but now with Chennai plant starting commercial production, export is also on the radar. We are targeting markets of Africa, the Middle East and neighboring S E Asian countries from the Chennai site. The Chennai plant is considered as the most modern and hi-tech masterbatch unit installed with mix of machinery procured from the US, Germany and Indian suppliers.

All the four units are operating with 15 lines, the newly-opened Chennai facility starts with 2 lines with another two to be installed in the next six months. “The production kickstarted with two lines with 400 ton monthly capacity, with the installation of two additional lines, the production will be doubled to 800 tons per month.” Currently, four plants have cumulative installed capacity of about 17,500 MTPA.

Mundhra Masterbatches claimed to be the only masterbatch producer in the country to produce masterbatches in 32 different polymer carriers such as PA6, 66, PBT, PET, Pharma, POM, PMMA, GPPS/HIPS, SAN, ABS, PU etc. The company acquired expertise in manufacturing color, white, black, additives and customized engineering compounds.

“We are the largest producers of anti-microbial masterbtaches comes under specialty additive category,” he claimed.

It also distributes universal masterbactch of Color Service GmBH, Germany. Working on Twin-Screw Technology, Mundhra also has in-house testing facilities like MFI, carbon black content tester, UTM, iZOD, Muffel Furnace,Spectrophotometer (x-rite) etc. “We also have ready stock of more than 500 different types of raw material for immediate customer supply even in huge quantities.”

As part of continued expansion, Delhi-based company is also in the midst of setting-up a compounding facility in Bawal (Haryana), which would likely to be operational in the middle of 2023.

Growing at about 35% annually, targeting ₹10 Billion yearly turnover, the company is also planning big-ticket investment in the evolving plastic recycling business from 2023. “Plastic recycling is emerging as next big thing in the country, and we are working on a strategy to establish as a major brand in plastic recycling with plans of setting-up multiple recycling sites in different parts of the country in the next one decade,” revealed Abhishek Mundhra.

India has about 30 big masterbatch producers in the organized sector, controlling about 40% of the market. It is estimated to 100,000 tons masterbatch market per month, valued at about ₹100 Billion monthly.

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