ABB INVESTS IN EDGE-TO-CLOUD PLATFORM INNOVATOR PRATEXO

ABB is investing in a strategic partnership with Pratexo, an edge-to-cloud acceleration platform company. The partnership involves a minority investment in Pratexo through ABB’s venture capital unit, ABB Technology Ventures (ATV). Financial details of the investment were not disclosed.

Pratexo’s technology platform supports IoT and artificial intelligence initiatives which demand compute power at the edge. The company’s technology enables the rapid set-up of systems that can process huge amounts of data generated by IoT sensors and run advanced analytics in real-time close to the location of the device, rather than in the cloud.

ABB’s Electrification Service will leverage Pratexo’s industry-leading, no-code development platform, Pratexo Studio, to accelerate and revolutionize how edge-to-cloud digital solutions are designed for customers, allowing them to make better decisions for future operations.

The collaboration with Pratexo will help ABB’s customers deploy edge-based networks and solution architectures that provide real-time insights, with the added benefits of reduced cloud data transfer volumes, improved data privacy and security, and the ability to run even when not connected to the internet.

One example is customized, decentralized software solutions that allow distribution grid operators to manage, monitor and assess electrical systems in real-time, identify what could potentially be causing machine faults, and optimize at the most local level to adjust to rapidly changing circumstances such as identifying and responding to changes in power availability and consumption.