Two St. Paul firms, Lab651 and Keystone Automation, have joined forces on the co-creation of a new industrial internet of things (IIoT) signaling device for small and midsize facilities to measure change.
Called Praeco, it provides ongoing monitoring and real-time updates for various types of machinery and equipment sensors within the environment, configured to generate a simple text message or email alert whenever a certain state or threshold changes.
“We are going into this together,” Lab651 partner Justin Grammens says. “We’re both playing to our strengths and reaching into our communities.”
Lab651 is acting as the development partner and Keystone will be focused on selling and distributing the device; their relationship involves a long term revenue share on any profits made. Grammens also sees potential to layer additional services on top of Praeco, such as managed monitoring, bidirectional communication, and full automation using machine learning.
The joint venture is a first for Lab651, though he’s sure to say “We’re very open to partnering on product development with others — startups, Fortune 500, and everything in between.”
Formed about 18 months ago between Grammens, Rodney Landers, and Troy Pongratz — the trio brings together product design, embedded systems and software applications. They’ve already grown to about ten employees total with room for an Android, iOS, and Lead Software Engineer.
In another local connection, Praeco is made using the cellular SIM Electron from Particle (formerly Spark Devices) which moved headquarters in California years ago, though still maintains a small office in Minnesota.