Industrial IoT and AI startup LiveNSense was founded in 2018 in Bengaluru with an objective to make the industry pollution-free. LivNSense’s flagship digital system addresses the energy balance by using the power of AI.
“Our main focus is the Oil and gas industry as well as chemical and metal industries like aluminium and steel firms. As we work with AI-based software it does not require significant investment. I worked for 25 years in the IT industry and spent my childhood in coal mines. I always wanted to reduce carbonisation and make the environment pollution free and green,” says Avnish Kumar, Founder and CEO of LivNSense Technologies.
“Our systems collect all the data using our software and analyse the data in real-time to find out the parameters of energy consumption and carbon emission. Our software controls the efficiency of metal, chemical and thermal together and it is called the energy balance technology,” adds Kumar.
In 2018 LiveNSense started its operations with the automobile sector. It digitised welding machines and increased the productivity of the workers. In 2019 LivNSense entered the oil and gas industry to reduce carbon emissions and energy losses. It has succeeded to provide a 5% reduction in carbon emission and reduced the operational expenditure.
“ In the first years, we had a return on investments of 25%. Our future plan is to cover the EPI manufacturing industry and our Mission is to reduce 100 megatons of carbon emission in different sectors. We have a total of 10 customers including 3 customers from the US and 7 from India. We already have 7 customers in the production phase and they are paying us,” says Kumar.
LivNSense’s last year's revenue was around Rs 3 crore and it targets to reach Rs 15 crore this year. “We already have 5 crore orders and will try to pick orders of 10 crores in the next 6 months,” adds Kumar.
LivNSense is one of the 20 startups selected for mentorship under the Mentors of Global Bharat program, an initiative by TV9 Bharatvarsh and SAP to offer guidance and support to budding entrepreneurs.
“We want to raise Rs 30 crore in funding as we are expanding in the US and Singapore. We also see the potential in the Middle East. We also got an award for best invention from Hambell in 2018-19. We have our offices in Bangalore and Pune. We want investment support because the incubation period is too long,” says Kumar about his expectation from the Mentors of Global Bharat programme.