Minionlabs wins the national startup award 2020 for the category of Industry 4.0 and the theme of Internet of Things IoT.
There were 181 contestants in the category of Industry 4.0 and around 89 contestants in the theme of Internet of Things, IoT.
The other themes which were considered for the awards were; Big data, internet of things, 3D printing, cloud computing, Augmented reality products, robotics and computer vision.
Minionlabs India Private Limited
Minionlabs have identified a gap in the market for energy usage tracking within a building. Using Machine learning and AI to derive actionable insights, they bring about massive savings on electricity bills. In case the electricity data isn’t readily available, they also have a hand-sized sensor to collect data. Minion senses each and every appliance, device and tool turning on and off inside the building and generates a comprehensive report on predictive analytics and maintenance.
Minion uses a machine learning algorithm that captures voltage and energy signatures at microsecond intervals to study the patterns of device consumption. With this rich data, the algorithm is able to output a 98.24% accurate analysis of multiple energy signatures at any given point.
- The machine learning algorithms have been trained using more than 10 million data points, over 10,000 hours of energy signatures and are currently being used to monitor over 1 lakh assets in real time.
- This energy management solution enables energy transparency and energy savings up to 30%.
- It can detect mechanical and process degradation.
Support & recognition
MinionLabs has received 24 Indian and international awards since its inception, including from the Indian PMO and the World Economic Forum.