February 10, 2021 – Librestream, a provider of augmented reality (AR) and remote collaboration solutions, has announced that it has secured strategic investments from Fortune 100 technology company, Honeywell, and Evergy Ventures, a non-regulated subsidiary of US energy company, Evergy. Librestream stated that the strategic investments will help facilitate deeper learnings for the company and will enable the groups to work together to advance transformation initiatives across industries.
President and CEO of Librestream, John Bishop, explained: “While Industry 4.0 initiatives traditionally focused on digitizing factories and facilities, the business impact of remote workforce digitization is drawing increased attention at the executive level. Honeywell and Evergy Ventures recognize both the vital importance of workforce transformation as a fundamental part of their strategy and our expertise in remote expert assistance. We will draw from their experience and leadership positions to inform and accelerate our growth strategies.”
Honeywell’s strategic investment expands on its existing partnership with Librestream, while Evergy Ventures begins a new relationship with Librestream to accelerate digital transformation within the energy sector. According to Librestream, Evergy Ventures identified it as the top provider of remote expert and knowledge management tools, with its offering of
‘see-what-I-see’ remote inspections, digital workflows, learning and training, knowledge capture and analytics, and hands-free operation through the company’s Onsight remote expert software platform.
“The energy sector is undergoing profound transformations enabled by new emerging technologies. We invest in companies that make this transformation more accessible, efficient, and valuable for our utility and customers,” said Dennis Odell, Vice President of Evergy Ventures. “Our strongest partnerships come from growth equity investments in revenue-generating businesses that are primed for expansion, and Librestream squarely hits those marks. This strategic partnership gives us a direct line of sight into the market and into a solution that is hugely transformative, drives operations and maintenance efficiencies, increases safety, and can be deployed at scale.”
Charles Vaslet, Partner at clean tech venture capital firm, Emerald Ventures, a Librestream investor since 2016 added, “These strategic investments from Honeywell and Evergy are a clear indication of the value placed on workforce transformation initiatives at scale. Adoption of remote workforce solutions were growing strongly prior to COVID-19, and the pandemic served as a catalyst for further demand. We expect these strategic investments will inspire further growth at scale across industries, and positions Librestream for expedited growth.”
For more information on Librestream and its augmented worker solutions, please visit the company’s website.
Image credit: Librestream
About the author
Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past five years.