PsiKick announced last week that it is officially changing its name to Everactive, which the company says better represents its batteryless and wireless sensors.
In addition to the name change, Everactive closed a $30 million funding round with several investors, including Future Fund. The company so far has raised $63 million, according to a blog by ARC Advisory Group analyst Chantal Polsonetti.
Its target market is industries that collect and analyze data on physical equipment and infrastructure. This big data approach can cut costs, boost efficiency and improve safety.
The company’s Eversensors products work without batteries because they can harvest power from indoor solar sources and thermal gradients. In a world with 1 trillion sensors, there would be more than 900 million daily battery replacements, according to an estimate on the company’s website.
In 2015, Everactive created an integrated wireless system-on-chip that consumed a tiny amount (6.5 μW) of average active power while operating a wearable device, tens of times lower than low power devices had before.
In 2018, Everactive released its first product, a self-powered Steam Trap Monitor that is designed to reduce wasted energy and carbon emissions by alerting maintenance personnel when a trap has failed. An estimated 20% of all steam traps used widely in industrial settings leak.
The company is also deploying a Machine Health Monitor to analyze vibration on rotating equipment, including fans and pumps. A Flare System Monitor watches flares from refinery stacks to help reduce their length.
The basic Everactive technology is licensed out of the University of Virginia and the University of Michigan where the company’s co-founders teach.