Ping Services, the developer of acoustic based asset monitoring platforms, has announces that it has closed a AUS$ 650,000 seed fund round. The funding round is in addition to AUS$ 200,000 of government funding secured earlier in the year.
The AUS$ 850,000 will be used to support the commercialisation of its world-first device, Ping Monitor, for domestic and international markets after six years in research and development.
The Ping Monitor listening system uses acoustic analysis, machine learning and IoT to help continuously detect wind turbine blade damage. The patented device uses proprietary algorithms which rate the health of turbine blades based on their acoustic signature. Data collected is transferred from remote sites via low orbit nanosatellite technology. The tech startup has won their first client last month and are set to launch the second-generation Ping Monitor 2.0 in August 2019.
