Averting the Ache: Flutura, the AI-powered smart future of Oil & Gas Industry, Process Chemicals and other heavy engineering sectors
It’s not an easy task to be an entrepreneur- you have to keep your head high and look straight into the eyes of the challenges. In our routine life, we are encountered by inspiring stories about business leaders who observed the industrial clog and dared to move and shake the existing global business environment with their passion and commitment. Having in the heart a catalyzing ingredient called motivation, the trio of Krishnan Raman, Derick Jose and Srikanth Muralidhara nurtured a common drive to create a new concept for various industries, backed by their fresh thinking and hard work. These tomorrow’s global leaders cultivated an idea back in 2013 which metamorphosed into a pioneer, Flutura. Christened as a niche engineering data Science Company, Flutura’s AI-based Industrial IoT product Cerebra homes surgical applications for Oil and Gas, Process Chemicals and other heavy engineering sectors to optimize operational efficiency and power new revenue streams. Flutura’s adroitness in deploying state of the art big data and data science technologies to power proprietary algorithms has firmed its roots across a wide gamut of industries. Today, the clientele of Flutura has been adorned by industry leaders like TechnipFMC, Al Mansoori, GTT etc in O&G, Henkel in Specialty Chemicals and Hitachi amongst Heavy machinery OEMs. Currently, the organization has reached much greater pinnacles with an unfailing growth. Cherishing strong penetration across the globe, it looks like the pioneer has been here for centuries. What has been the secret formula behind this pioneer’s giant strides? To spill the beans, Srikanth took out some time from his swamped schedule and joined us for a conversation orbiting around Flutura’s journey.
How Flutura sits within the entrepreneurial ecosystem of World today?
We saw that the unplanned downtime of heavy machinery and machine influenced process deviations is a vastly underserved market. Flutura was set up as a global company from day 1 of its inception. We are co-located in Houston and Bangalore. We also have offices in Japan, the UK and Germany. We are one among the very few product companies from India catering to this sector. We are among the top 10 Industrial IoT companies in the world which Gartner published in their inaugural magic quadrant for this sector.
What are the key aspects that demonstrate the uniqueness of the company?
We are one of the very few companies in the world to have unique insights into last mile issues in engineering operations for the Oil and Gas, Specialty Chemicals, Heavy Machinery Manufacturing and adjacent sectors. This has assisted in shaping our product Cerebra with over 400+ features- the most comprehensive in the industry for an Industrial IoT platform. We are at a stage where we have specific digital assistants addressing super surgical engineering issues. Gartner recently published their inaugural version of the industrial IoT magic quadrant and Flutura’s Cerebra appeared as a part of this elite list.
Another aspect where Flutura is uniquely poised is- we have a world-class multidisciplinary team of petroleum engineers, mechanical engineers, electrical engineers & computer science folks shaping Cerebra. We believe that the only way to succeed in the Industrial IoT space is to empower engineers to harness the power of data science. Towards this, we are developing first of a kind role for the industry – Industrial Engineering Data Scientist.
Above all, we are proud to have some Great engineering companies who are Category leaders in their respective industries as our Customers.
Was there any challenge faced during the initial journey of the business?
Every startup in my mind is a journey of discovering unknown-unknowns. The biggest one would be achieving product-market fit; it is both time-consuming and is the most critical aspect of any new business especially when it comes to technologies which are at the nascent stages of adoption. Secondly, understanding buyer mental models and motives are again extremely critical especially when we enter new markets or take new products to the market.
How do you plan to make your mark in the industry?
Since begging, we have been envisioning to consolidate our position as the most reliable industrial intelligence company in the world. We will continue to invest in developing surgical vertical-specific products for high-value business/engineering problems. We will continue to invest in forming exclusive partnerships to support turnkey deployments with our customers.
What are the organization’s areas of expertise in line with the services offered?
Our product Cerebra leverages state of the art big data and data science technologies to power proprietary algorithms for specific industries we serve.
Brief us on the milestones and accolades earned by the company till date.
Recently we were recognized by Gartner in their first ever industrial magic quadrant globally. We were also cited in Forbes, Reuters and other leading publications available in the public domain. Flutura has won several awards from Microsoft, Zinnov, Mayor of London, NASSCOM and from several other prestigious institutions.
As you look toward the future, what do you foresee for the future of business continuity?
Several themes are emerging which will impact business,
- The space we are in is pretty exciting and I foresee a lot of new opportunities opening up and as a result, more and more companies will invest heavily in technologies like ours.
- Talent shortage will be amplified further
- I am concerned about the de-globalization phenomenon happening in several parts of the world and how this will unfold. We are already seeing implications of this on the ground starting with travel restrictions imposed.
Talking about the future, what route map has been laid out for the company’s journey ahead?
This space will continue to evolve and we believe that every step from now on will be walking towards Large Scale Autonomous Operations which will soon become all pervasive. You can imagine the disruption which will happen through this evolution and hence a lot of opportunities for us to embrace.
What are some of the learning in your life and what is your biggest dream?
At a very early stage in my career, I was exposed to customer-facing roles. If I reflect back on this journey, the greatest moments of joy were when customers placed their trust in me to make them successful. I believe Trust is the highest form of human motivation and it brings out the very best of human values in people and everlasting relationships. This simple principle has helped me as an entrepreneur in so many ways and continues to do so every single day. Our first investors and the first set of customers were friends and former customers of Krishnan, Derick and me.
I am not a big believer in dreams. I am more of a believer of doing the best and achieving the pinnacle in whatever we do.
A piece of advice for the young aspirants…
We will always live in a world of constraints find ways to chip away one step at a time.
Don’t be afraid to make mistakes and experiment!
Seek help, there is plenty available.
Articulate your product or service in the buyer’s language and make it tangible.
The pilotage spearheading Flutura belongs to the elite group of serial entrepreneurs who have played key roles in building the analytics business unit for the organization and have been successfully involved in more than 400 transformational projects for fortune 500 companies.
Chief Product Officer
Chief Customer Officer