Phaidra, a pioneer of using artificial intelligence (AI) to improve efficiency, stability, and sustainability in the industrial sector, has closed $25M in Series A funding, the company announced today. The funding will allow Phaidra to accelerate deployment of its technology in mission-critical industries, from data centers and refineries to pharmaceutical plants and steel mills.
To head its growth and business development efforts, Phaidra also announced the addition of industry veteran Robert Locke as president and chief strategy officer. Robert previously was senior vice president of corporate development for automation giant Johnson Controls, where he worked closely with many of JCI’s largest customers, led the creation of new businesses and JCI’s corporate venture capital team, and sourced strategic acquisitions.
“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.”
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Phaidra’s AI platform enables the industrial sector to radically improve resource efficiency via self-learning control systems. From data centers to pharmaceutical manufacturing to district cooling, Fortune 100 companies are using Phaidra to control complex industrial systems like large chiller plants to reduce their energy consumption by 15-30 percent while improving thermal stability by up to 70 percent. Despite these facilities being already highly-optimized, Phaidra’s technology has unlocked further double-digit performance improvements as its AI identifies opportunities that humans cannot see.
While traditional industrial controls systems today are static (meaning they utilize hard-coded control logic that results in repetitive behavior and break easily), Phaidra’s technology is dynamic and gets smarter over time. The AI optimizes plant performance in real-time by continuously learning and adapting to changing plant conditions. This increases profitability, efficiency, and process stability for Phaidra’s industrial customers — while reducing emissions.
Phaidra’s founders have years of experience working on transforming the industrial sector. Gao, along with CTO Vedavyas Panneershelvam, previously led Google DeepMind’s energy and climate efforts, reducing Google’s data center cooling energy usage by 40 percent with an AI-based control system. COO Katherine Hoffman is a veteran of the defense and controls industries, where she specialized in new technology commercialization and controls system design.