Fieldbit Wins Israel Industrial IoT Startup Competition Sponsored by GE Digital

Fieldbit Awarded First Prize by Industry Experts for Its Augmented Reality Field Service Collaboration Platform

Hod Hasharon, Israel, November 22, 2017 – Fieldbit, a leader in real-time augmented reality and knowledge capture solutions for field services, was awarded first prize in the Industry Innovative Startup Competition, sponsored by GE Digital and powered by Start-Up Nation Central. The award was presented at the Israel Industrial IoT Forum 2017 conference, held on November 13 in Tel Aviv.

The Industrial Internet of Things (IIoT) is transforming industrial and manufacturing processes worldwide by adding smart sensors and robotics to create automated cyber-physical industrial systems. Over the past few years, Israel has become a hotbed for IIoT start-ups, with more than 50 international companies expanding their scouting, integration and R&D teams in the country.

GE Digital, a global IIoT leader and sponsor of the competition, scouted several dozen Israeli startups that develop technology for the industrial segment. This group was whittled down to ten semi-finalists that were then evaluated by a panel of industry experts based on their market position, technological capabilities, product-market fit and other criteria. The three finalists were presented at the conference, and Fieldbit was voted to be the winner by an audience of over 500 IIoT specialists, industrial company representatives and entrepreneurs.

Fieldbit’s augmented reality field services collaboration platform enables on-site service engineers to collaborate seamlessly with experts in the service center, and to receive all the know-how and guidance they need to solve issues quickly. Fieldbit also organically captures the knowledge created during the service process, which is then stored in a knowledge base for future sharing and reuse across the organization.

In today’s IIoT world, huge amounts of data are collected from sensors, machines and other sources and uploaded to the cloud for storage and analysis. Fieldbit plays a critical role in making this real-time IIoT data easily accessible and usable in the field. By combining augmented reality and smart glasses, Fieldbit closes the loop between big data in the cloud or enterprise knowledge repository and the technician on-site, providing relevant information in real-time about the process or machine in question. These capabilities, including predictive analysis, lessen the dependency on service center experts and expedite time to resolution.

“We are truly honored to have been recognized by GE Digital and other IIoT industry experts for our technological achievements that are helping to transform industrial processes,” said Evyatar Meiron, CEO of Fieldbit. “As the winner of the Innovative Industry Start-up competition, we look forward to the opportunity of business cooperation with GE and possible integration of the Fieldbit solution with GE platforms, such as Predix, as well as GE Automation Systems.”

About Fieldbit

Founded in 2014, Fieldbit is a leading developer of real-time augmented reality collaboration solutions. Its enterprise class, out-of-the-box, hands-free technology enables on-site service engineers to collaborate seamlessly with experts in the service center, and to receive all the know-how and guidance they need to solve issues quickly. Fieldbit increases remote resolution and first time fix rates, minimizing costly downtime and enhancing customer satisfaction. All actions and information exchanged in a repair session are recorded and documented, helping organizations preserve practical knowledge and address the challenges of an aging workforce. For more information, please visit www.fieldbit.net or email info@fieldbit.net.

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