Etteplan speeds up the fourth industrial revolution of machinery and equipment by investing in Swedish Ekkono Solutions AB, a developer of machine learning and artificial intelligence technology
Etteplan press release August 9, 2022 at 10.00 am EEST
Technology service company Etteplan makes a strategic investment in Swedish start-up company Ekkono Solutions AB, a developer of machine learning and artificial intelligence technology. Etteplan acquires some 20 per cent of the company.
Digital technology offers Etteplan a huge growth potential. Solutions based on machine learning and artificial intelligence speed up the fourth industrial revolution and promote the introduction of technologies supporting digital and green transitions. The technology can be utilized for instance for individual performance optimization, maintenance optimization, or optimizing energy consumption.
Founded in 2016, Ekkono Solutions AB is a Swedish Edge Machine Learning (ML) technology and software company, which employs Machine Learning Engineers, Data Scientists and Embedded Developers. Ekkono Edge Intelligence is a software suite for edge computing. It can be used to analyze for instance vehicles or electric motors in real time, self-learning and individually, while operational.
A machine or an equipment utilizes the results of the analysis for instance for optimizing maintenance or for boosting its energy efficiency. Ekkono’s Edge Machine Learning technology does not require transferring the data to the cloud, but makes the analysis and optimization locally on the machine or equipment. Therefore, Ekkono’s technology works also in machines and equipment that do not have an Internet connection.
Along the investment, Etteplan gains an opportunity to take part in Ekkono’s further development through representation at Ekkono Solutions AB’s Board of Directors.
”Data analytics and optimization of machines and equipment becomes more important while companies develop their machines and equipment to become for instance more and more energy efficient. An investment in a start-up company supports Etteplan’s strategy and target to bring modern technology as part of our service solutions. Our target is to do deep cooperation and steer the development of Ekkono’s technology. We wish to utilize the technology to generate value for our customers and support the development of sustainable future machines and equipment”, says Etteplan’s President and CEO Juha Näkki.
”Etteplan is a great partner for us. Their deep and wide technological knowledge helps us further develop the use and implementation of our technology. Etteplan’s clientele consists of many machine or equipment manufacturers who can utilize our innovative technology to enhance their products”, says Ekkono’s CEO Jon Lindén.
For more information:
Petri Ikonen, SVP, Solutions & Technologies, Etteplan, tel. +358 50 386 7253
Outi Torniainen, SVP, Marketing and Communications, Etteplan, tel. +358 10 307 3302
Jon Lindén, CEO, Ekkono Solutions AB, tel. +46 709 576 006
Ekkono Solutions in short
Ekkono is a Swedish software company that does edge machine learning, i.e. enables machine learning to run onboard devices. Ekkono’s unique capabilities, which is the result of seven years of research at the University of Borås, enable product OEMs to rapidly develop customized smart features that are self-learning, predictive and sustainable. Ekkono addresses multiple verticals, including industrial equipment, automotive, and energy, and has a strong portfolio of tier-1 customers. www.ekkono.ai
Etteplan in brief
We are a rapidly growing technology service company specializing in software and embedded solutions, engineering solutions, and technical documentation solutions. We are a forerunner in the engineering industry and we differentiate ourselves by the wide-ranging competence of our experts. Our customers include world’s leading companies in the manufacturing industry. We help them to create a better world through engineering, innovation and digitalization.
Etteplan has lead the way in the engineering field already since 1983. In 2021, we had a turnover of EUR 300.1 million. The company currently has over 3,900 professionals in Finland, Sweden, the Netherlands, Germany, Poland, Denmark and China. Etteplan's shares are listed on Nasdaq Helsinki Ltd under the ETTE ticker. www.etteplan.com