The SpaceAge Labs founders
Singapore-based SpaceAge Labs, a provider of remote monitoring and IoT/AI solutions, has secured SGD1.7 (US$1.25) million in seed funding, led by deep-tech investor Silicon Solution Partners and SEEDS Capital, the investment arm of Enterprise Singapore.
The startup will use the capital to grow its team, expand internationally, and roll out several pilot projects across Singapore, Australia, and the US.
“Growing populations, increased urbanisation, rising labour costs, lack of skilled workers, high safety standards and social distancing stipulations — various factors have been coming together resulting in the strong need for remote monitoring and IoT/AI solutions. This is why we set up SpaceAge Labs: to help governments and corporations improve the way they are managing their widespread assets for improved efficiency, reliability and safety,” said Deepak Pitta, Founder and CEO of SpaceAge Labs.
Also Read: How to firm up your IoT strategy to combat online risks
Incubated at NUS Enterprise @ Singapore Science Park, SpaceAge Labs carries out operations and maintenance of remote and distributed assets by collecting asset data using low power, long-range wireless IoT devices, together with advanced AI software to generate valuable insights from this data. The firm claims this increases the asset’s uptime (due to data-driven predictive maintenance) and reduces cost (less manpower required).
SpaceAge Labs’s flagship product is remoteEye, a sensor-agnostic IoT/AI platform that enables connected operations and maintenance.
remoteEye consists of three parts:
- rEyeIoTNodes: Low-powered wireless devices that read and transmit data from industrial sensors located at the assets.
- Wireless networks: The sensor data is transmitted to the cloud via low power wide-area wireless networks. The networks are low-cost (from S$1 per month per device), able to transmit over long distances (several kilometres) and consume low power (up to five years of battery life).
- rEye Data Cloud: Enterprise-grade IoT/AI software that stores, analyses, and visualises this sensor data. This software is secure, easy to use, and scale from managing one asset to thousands of assets. Proprietary AI software and geospatial data analysis provide valuable insights and predictions that can be accessed via web or mobile.
While remoteEye can be applied in various sectors, SpaceAge Labs initially targets three sectors: water/wastewater, urban greenery/landscaping, and facilities management.
SpaceAge Labs claimed in a statement that it has IoT deployments with more than 30 customers, including two key Smart Nation pilot projects in Singapore.
In H1 2022, SpaceAge Labs will conduct pilots with landscaping companies in Australia to help improve efficiencies of their grass-cutting work in Brisbane and Sydney. If these are successful, it could lead to nationwide deployments. Similar landscaping pilots will be conducted in the US in the latter half of 2022.
In Singapore, SpaceAge Labs plans to conduct several pilots to monitor water consumption patterns, detect leaks in facilities, and monitor weather/air quality in outdoor spaces. In addition, it will also monitor water quality in swimming pools and water play areas and mechanical/electrical equipment, such as decentralised water treatment skids and water tankers.
SpaceAge Labs is also supported by Imagine H2O (a water innovation accelerator) and PUB’s Singapore Water Exchange. Planetspark, a wholly-owned subsidiary of SGX mainboard listed Excelpoint Technology, is also a partner working closely with SpaceAge Labs to help accelerate their technology alongside joining the round as an investor.
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