AlchemyML

Project "AlchemyML" data sheet

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 Partnership

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 Project objective

Skootik (https://skootik.com) is a start-up from San Sebastian (Spain) founded in 2012 developing more accessible (technically and regarding its cost) exploitation of information extracted from data with artificial intelligence. Skootik is in the final round of the BIND4.0 start-up accelerator programme sponsored by the Basque Country regional Government, where large companies test technologies developed by start-ups. Our product, AlchemyML, is a universal and fully automatic machine learning solution, initially conceived for predictive maintenance of industrial machines in the manufacturing sector. Currently AlchemyML is expanding its features to assist in supply chain management and resource management. AlchemyML does not require businesses of any size to have any knowledge of machine learning to get the advantages of information extracted from data. Using AlchemyML will help to reduce maintenance costs by 15-35% by prevention of machine failure, improve resource management with a 5-15% reduction in utility bills or increase stock rotation by 5-10%. AlchemyML is a disruptive solution in the very dynamic ML market, which will reach globally €7 billion (CAGR 44.1%) by 2022. We aim at a revenue of €56 million with a positive ROI of 4.94 in our first 5 years, reaching a leading position in the manufacturing SME ML solutions market, with over 20% of market share, 300 new customers in Europe, and our staff growing accordingly, with around 30 new employees expected.