The company’s flagship platform streamlines on-ground operations with the help of a generative AI-led interface combining a natural language interface and machine learning
1 Oct 2024, SINGAPORE – TeamSolve, a startup developing robust and operationally-deployable AI solutions for the industrial and utilities sectors, today announced that it has completed a US$2.5m seed round anchored by SGInnovate and Burnt Island Ventures, a US-based early-stage venture fund for water entrepreneurs.
Founded in 2022, TeamSolve has developed a generative AI-powered Co-Pilot designed for industrial operators. The solution is a knowledge twin that provides an accurate, real-time view of asset health, making crucial information readily accessible to frontline workers for safer and more efficient problem-solving. Additionally, it supports managers by improving planning for asset renewals and crew dispatch.
"With this funding, TeamSolve is set to significantly advance our generative AI-powered Co-Pilot, enhancing its capabilities and expanding its reach. Our focus remains on making a profound impact while upholding the highest standards of accuracy and trust in our AI solutions. We look forward to scaling our technology, integrating valuable customer feedback, and continuing our mission to revolutionise asset management and workforce safety with precision and reliability," said Mudasser Iqbal, CEO, TeamSolve.
“As in most industries, AI will be transformational in water. TeamSolve have made an impressive start at the vanguard of transforming the experience of field operators, and those that rely on them. It will become a critical tool in helping bridge the skills gap that is already causing utilities and system operators acute headaches, and their lead in the vertical will yield major advantages. It’s a privilege to be on board,” said Christine Boyle, Partner, Burnt Island Ventures.
TeamSolve’s Co-Pilot can be applied to commercial buildings, industrial facilities or public and private utilities facilities across a range of sectors. To enable easy adoption among new users, the Co-Pilot can be integrated into familiar messaging platforms such as WhatsApp, and is able to learn on-the-go from field staff, via input in the forms of text, images and audio.
The Co-Pilot integrates field observations with other diverse sources of knowledge – such as insights from retiring experts, troubleshooting guides, and work order reports – to ensure the safety and accuracy of its data, while also identifying new opportunities for operational improvements through machine learning.
Improving operations flow for Singapore’s water systems
The company is addressing issues faced by utilities companies in markets such as Singapore, where approximately seven in 10 employers in the ‘Energy & Utilities’ sector have reported difficulties finding and hiring skilled talent, according to a 2024 report by the ManpowerGroup. At the same time, a rapidly ageing workforce in facilities management roles has further exacerbated the need for digital solutions that reduce manpower requirements, while aiding in knowledge and information retention to establish best practices in operations.
TeamSolve recently completed a pilot deployment of its Co-Pilot with the Singapore Public Utilities Board’s (PUB) Water Supply Network Department. The Co-Pilot provided on-demand, step-by-step asset troubleshooting and sensor quality assessment to support PUB operations, with continual analytics and improvements delivered through machine learning. Following completion of the project, PUB users highlighted their satisfaction with the system, and noted that the team has gained insights on augmenting daily operations with the use of digital solutions such as TeamSolve’s generative AI Co-Pilot system.
Company leadership
TeamSolve is led by four co-founders with extensive experience overseeing critical projects in the water industry:
- Mudasser Iqbal, CEO
- Michael Allen, Chief Technology Officer
- Robin Wong, Chief Commercial Officer
- Ami Preis, Chief Operating Officer
Co-founders Mudasser, Michael and Ami are repeat entrepreneurs from the water industry, having previously co-founded Visenti, a Singapore-based smart water analytics startup spun out of the SMART research programme at the Massachusetts Institute of Technology (MIT). Visenti was later acquired by American water technology provider Xylem in 2016. Meanwhile, Robin previously led major commercial teams and business development projects with Xylem across the region, overseeing business growth, rollout of new products, applications and entry into new market segments.
“Singapore has always been known for an innovative approach to managing water and other resources, and TeamSolve is a great example of how our strengths in emerging technologies like generative AI can be applied to solving challenges in this space,” said Hsien-Hui Tong, Executive Director – Investments, SGInnovate. “We look forward to working with the team to scale and explore the application of their flagship co-pilot solution to other industries to support the changing needs of our workforce.”
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About TeamSolve
TeamSolve is a pioneer in analytics and automation for the industrial and utilities sectors, dedicated to enhancing workforce safety, collaboration, and productivity through innovative generative AI-powered solutions.
We are dedicated to making a significant impact by delivering AI-powered solutions that uphold the highest standards of accuracy and trust. Our strong relationships with leading utilities, industrial enterprises, consulting firms, and IoT solution providers reflect our deep understanding of user needs and our dedication to advancing operational excellence.
About Burnt Island Ventures
Burnt Island Ventures was founded in 2020 to find, fund, and support the best water entrepreneurs in the world, filling a clear gap in the $1.4 trillion industry's funding structure. We deployed our oversubscribed 2021 $30m Fund I across 18 companies, and we have completed our first five investments in Fund II. Our team has deep specialised water expertise, and we have built market-leading investment support infrastructure through the BIV Platform.
About SGInnovate
SGInnovate is a Deep Tech ecosystem builder and investor, backed by the Singapore Government. Our expertise and approach combines investments, talent development and community-building to catalyse the translation of emerging technologies into tomorrow’s opportunities.
Through our flagship Deep Tech Central platform, we connect individuals, founders and companies to specialised resources and opportunities across all technological domains and stages of growth. Our portfolio of emerging tech startups comprises some of the most promising companies leading the commercialisation of research developed from Singapore’s RIE ecosystem.