Austin-based RapidCanvas has acquired Entytle, a company whose artificial intelligence helps industrial equipment makers such as Baker Hughes and Veolia find parts and service sales across machines already in use. The companies announced the deal Wednesday. The price was not disclosed.
RapidCanvas builds and runs AI tools for businesses. Entytle focuses on a narrower problem: helping machine makers sell more parts and repairs for equipment they have already delivered.
Why do machine makers struggle to sell aftermarket parts?
Industrial machines can run for 10 to 30 years, and they keep generating money for their makers through replacement parts and maintenance. Entytle says the trouble is that sales teams cannot stay in touch with every buyer. Many smaller customers fall through the cracks as a result.
What do Entytle's AI agents do for equipment makers?
Entytle’s AI agents monitor the machines a manufacturer has in the field and recommend when to reach out to a customer. The agents also help identify new buyers, draft price quotes and respond to customer questions. Entytle’s clients include Peerless Pump, Baker Hughes, GEA and Veolia.
“The bottleneck to unlocking aftermarket revenue has always been execution, not only insights,” said Rahul Pangam, co-founder and chief executive of RapidCanvas.
Who will lead RapidCanvas's new parts and repairs unit?
The deal covers Entytle’s software, its clients and its staff. Entytle’s Insyghts product will keep its name. Entytle CEO Vivek Joshi will lead a new unit at RapidCanvas that focuses on parts and repairs.
The acquisition comes only weeks after RapidCanvas raised a $29 million Series B round led by Vertex Ventures SEA & India, with Hitachi Ventures also participating. RapidCanvas pairs its AI agents with human engineers who build and operate them for clients.
Entytle is not the only young company pushing AI agents into heavy industry. New York-based Evos is pursuing a similar approach.
Questo articolo è stato scritto con l'assistenza dell'IA.
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