Honeywell Partners with Librestream to Advance AR and Remote Collaboration Solutions
Automation giant Honeywell and Evergy Ventures announced a new investment in Librestream, a firm specializing in developing augmented reality (AR) solutions.
The funds will go toward the further development of Onsight, Librestream’s flagship AR and remote collaboration platform.
Video used courtesy of Librestream
Following the beginning of the partnership, Librestream will be upgraded further by introducing additional deep learning capabilities to enable numerous transformation initiatives across industries.
Librestream: A Company Overview
Founded in 2003 by Kerry Thacher, Librestream is a pioneer in AR and collaborative solutions. Over the past 18 years, the firm has launched several products aiming to digitize the worker’s day. These include releasing the world’s first mobile virtual presence platform in 2006, AR compatibility with smart glasses and wearables in 2016, and the first multi-purpose industrial wearable with integrated thermal imaging camera in 2018.
Librestream’s AR promotes connection. Image used courtesy of Librestream
Librestream’s growth has been steady in the last two decades, with the company raising a total of $44.3 million in investments. The Canada-based firm plans to use the new funds from Honeywell and Evergy Ventures to expand its Onsight AR platform’s capabilities.
The Onsight AR Platform
First released in 2018, the Onsight platform is an AR industrial solution designed to perform in harsh environments, including areas with low bandwidth.
The Librestream Onsight AR program. Image used courtesy of Librestream
Featuring data analytics and dashboards to help technicians assist remote workers on the field, Onsight offers various software capabilities and optional inspection accessories. These include verification and support using remote expert video assistance, intelligent data creation using AI computer vision (CV), content capture and centralization for training and audits, and IoT data visualization from test instruments and data sources.
Onsight is also compatible with Librestream’s industrial thermal wearable Cube, which allows for hands-free collaboration and inspection, particularly in harsh environments. Onsight’s prime applications can be found in manufacturing, aviation, energy, heavy equipment, and field service.
Supporting Remote Work During the COVID-19 Pandemic
The new investments from Honeywell and Evergy represent a clear indication of the value placed on workforce transformation, particularly during the COVID-19 pandemic. Remote workforce solutions were growing prior to COVID-19. However, the pandemic catalyzed further demand.
Industrial users working remotely via Onsight. Image used courtesy of Librestream
Moving forward, new funds can substantially contribute to developing Librestream and its adoption in different fields. Librestream could help grow a remote workforce at scale across industries.
Honeywell’s latest investment in Librestream builds on a previous partnership with Librestream, while Evergy Ventures’ contribution represents the beginning of a new relationship with the company.
Onsight can provide workers with intelligent data. Image used courtesy of Librestream
Both firms have motivated their investment by highlighting the need to accelerate digital transformation within the energy sector through fresh funds and innovative initiatives.
According to a recent news release, Evergy wants to invest in companies making accessible, efficient, and valuable technologies. The company’s strongest partnerships come from growth equity investments in revenue-generating businesses showing promise for imminent expansion.
For more information about Librestream or to request a demo of the Onsight platform, you can visit Librestream’s website.