Phaidra Boosts Industrial Profitability Leveraging Ai
CIOREVIEW >> Artificial Intelligence >>

Phaidra Boosts Industrial Profitability Leveraging Ai

By CIOReview | Friday, August 26, 2022

Phaidra will use deep reinforcement learning and artificial intelligence to increase Fortune 100 profitability and reduce emissions with the $25M Series A funding.

FREMONT, CA: "At DeepMind, my co-founders and I saw first-hand how deep reinforcement learning was creating breakthroughs in multiple real-world applications. We started Phaidra to bring the benefits of this technology beyond the tech companies to the industrial sector," said Jim Gao, CEO of Phaidra. "Robert's company-building expertise and the Series A raise will go a long way towards achieving our mission of radical resource efficiency."

Phaidra has raised $25M in Series A round of financing, a milestone for a company that uses artificial intelligence (AI) to improve efficiency, stability, and sustainability in the industrial sector. From data centers and refineries to pharmaceutical plants and steel mills, Phaidra will use the funding to accelerate the deployment of its technology.

Phaidra's AI platform empowers self-learning control systems to improve resource efficiency in the industrial sector drastically. The energy consumption of Fortune 100 companies using Phaidra is reduced by 15-30 percent, while thermal stability is improved by 70 percent, ranging from data centers to pharmaceutical manufacturing to district cooling. As Phaidra's artificial intelligence identifies opportunities humans cannot, its technology has helped these facilities achieve further performance improvements.

"Technologies that enable companies to be more profitable and efficient while simultaneously reducing their emissions are critical to addressing the climate crisis," said Jeremy Brewer, managing partner of Starshot Capital. "We are delighted to support Phaidra as they transform the industrial sector."

With their extensive experience in transforming industrial sectors, Phaidra's founders are experts in the field. As COO, Katherine Hoffman brings years of experience in the defense and controls industries. Google DeepMind's energy and climate efforts were previously led by Gao and CTO Vedavyas Panneershelvam, who used AI to reduce Google's data center cooling energy use by 40 percent.

"The industrial sector consumes the majority of the world's finite resources. Phaidra's technology represents an opportunity to address one of the most pressing challenges of our time," said Sam Feinburg, Founding Partner at Helena.

Phaidra's technology is dynamic and becomes smarter over time, unlike traditional industrial control systems that are static. AI continuously adapts to changing conditions to optimize plant performance in real-time. In addition to reducing emissions, Phaidra's industrial customers can increase profitability, efficiency, and process stability.