NEW DELHI : Accenture, a global IT services company, has acquired Flutura Decision Sciences and Analytics, a Bangalore-based industrial Internet of Things (IoT) startup, for an undisclosed amount.
The deal will pave the way for the exit of Flutura’s existing investors Vertex Ventures, Lumis Partners and The Hive, Accenture said in a statement Tuesday.
Accenture expects Flutura, operated by Flutura Business Solutions Pvt. Ltd to strengthen its industrial artificial intelligence (AI) services to improve the productivity of factories, refineries and supply chains, and enable customers to reach their zero-sum goals faster. The acquisition will be used to serve Accenture customers in the energy, chemical, metals, mining and pharmaceutical industries, she said.
This is at least Accenture’s third bid in the AI domain space in India. She previously bought Bridgei2i and Byte Prophecy in 2021 and 2020, respectively.
Flutura was launched in February 2012 by Derik Jose, Krishnan Raman and Srikant Muralidhara. According to the announcement, the company’s flagship software platform, Cerebra, provides machine learning and artificial intelligence diagnostics and prediction to unlock value for engineering and energy customers.
Industrial engineers and data scientists can also quickly develop digital models of industrial assets on the Flutura AI platform, which processes data from disparate IT systems and operational technologies.
Flutura received its latest institutional funding round from Vertex Ventures and Lumis Partners in 2017.
The startup, accelerated by Microsoft Ventures through its Hi-Po Scale-up program, also received funding from big data startup fund The Hive.
The startup also raised $1 million in funding in 2018 from a division of Japanese conglomerate Hitachi Ltd.
Flutura operates in Houston (USA), Singapore, the Netherlands and Bangalore. Her clients include Henkel, Stewart & Stevenson, Sodexo and others. Flutura has about 110 employees.
Sentil Ramani, Senior Managing Director and Head of Applied Intelligence for Growth Markets at Accenture, said Flutura can help reduce emissions, energy consumption and product loss due to unplanned downtime of industrial assets through carbon intelligence.
“This acquisition will drive AI-powered industrial transformation for our customers around the world, especially in Australia, Southeast Asia, Japan, Africa, India, Latin America and the Middle East,” Ramani said.
Applied Intelligence is Accenture’s AI offering for enterprises. The platform aims to enable its customers to use AI without the need for deep data science knowledge.
It offers organizations and non-data professionals the tools and data they need to apply preconfigured, self-learning industry solutions to help them build applications.
Accenture creates its data and AI capabilities for customers through acquisitions.
Last year, she acquired data firm Albert in Japan.
Other recent AI acquisitions include Analytics8 in Australia, Sentelis in France, Bridgei2i and Byte Prophecy in India, Pragsis Bidoop in Spain, Mudano in the UK, and Clarity Insights, End-to-End Analytics and Core Compete in the US.
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