By: Gady Konvalina
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FeelIt

Feelit developed RetroFeel, a product based on printed sensors made from nano-material inks. It senses structural chages in each object and pre-detects structural damage. It is expected to solve 50% of billions of dollar of a constantly growing market.

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Stage:Seed +
Category:Software
•  Overfunding - Over 100%    
  • Campaign Highlights
  • Pitch
  • Team
  • Investors 36
  • Updates

Campaign Highlights

Revolutionary and groundbreaking product

Feelit has developed RetroFeel, a unique product that is based on revolutionary nanotechnology inkjet printing. Feelit's revolutionary product enables to sense changes in the structural condition of any existing object and to directly transmit the information to a cloud-based platform. Thus, the product can detect critical structural problems in advance. RetroFeel provides monitoring solutions mainly for the industrial equipment market for problemsthat are currently unanswered and cannot be detected in advance. Therefore, RetroFeel enables plants to save up to millions of dollars per year in productivity and energy losses and as well as maintenance costs.

 

Team of highly experienced world-class experts

Feelit was founded in 2017 by Dr. Gady Konvalina, Dr. Meital Segev-Bar, and Prof. Hossam Haick. All three founders have mutual experience of decades in research in development in the field of material and chemical engineering. Dr. Segev-Bar was nominated in 2018 as one of the leading 20 female young entrepreneurs in Israel. Prof. Haick is considered a world-leading expert in the field of nanomaterial-based devices. Moreover, Prof. Haick was chosen by the GOOD magazine as one of the 100 most influential people in the world, due to his groundbreaking research and developments in the area of nanotechnology.

Raise of significant capital and initial proof of concept

Since its foundation, Feelit succeeded to raise significant sums of money, both from Takwin VC and from the Japan based fund GiTV. Feelit also won the Horizon 2020 grant from the European Union. Lately, in April 2019 the company presented RetroFeel on valves made by Ham-Let, with the cooperation of Siemens, during the biggest global industrial IOT convention in Hanover.

In addition, Feelit began its path in the Technion's Accelerator DRIVE and received a significant financial investment and licensed technology from the esteemed Israeli foundationas.

 

Cooperation with Merck and Acceptance to the Intuitive Grasping consortium

During 2018, Feelit has started a pilot n experiment over on the production line of Merck, the global German based pharmaceuticals company, in the company's plant in Israel. On May 2019 Feelit won 1st place in the Hangar competition, the IAI’s official innovation platform for introducing new technologies into the aviation market. Moreover, Feelit is the first Israeli startup to enter Merck’s new Innovation Lab, PMatX, in Yavne Israel. Feelit, as well, was also accepted to the Intuitive Grasping consortium of IIA, in order to cooperate with leading companies such as Siemens and Keter Plastic for developing advanced grasping feedback for robotic applications. The collaboration is expected to start in on August 2019.

 

A growing market

Industrial monitoring and control market is evaluated nowadays in tens of billions of dollars. Within this tremendous potential market, Feelit is focused on the global Predictive Maintenance market which is evaluated in billions of dollars. Global Predictive Maintenance market is expected to grow by tens of percents in next years and reach a global market size of more than 10 billion dollars by 2022. 

Pitch

The idea

Feelit has developed RetroFeel, a nanotechnology-based sensors product that enables to feel any physical object, from canisters to industrial equipment, including pipes and machines. The sensors can be easily and quickly attached to objects, thus allowing to detect the structural condition of objects in real-time. For example, the product enables to monitor the condition of pipes in production lines in a non-intrusive manner, while avoiding loss of money and production dowtime. All the information from the sensors is transferred in real time to a cloud, thus, enabling to pre-detect potential production equipment failures and perform planned maintenance activities instead of costly reactive maintenance.

The company’s solution

RetroFeel, the revolutionary product developed by Feelit, enables to stick flexible thin labels that conform to the shape of different objects. Over these labels, a special ink developed by the company is printed in advance, in a way that allows knowing the structural condition of objects in real time. This unique nanotechnology-based ink allows measuring different health indicators of the equipment based on pressure and temperature readings (in a range of -40 to 100 degrees Celsius). The printed ink, while being on the label, becomes a pseudo-skin of the equipment. The information gathered by the label is being transferred, live, through a connected transmitter, to a cloud-based platform. Therefore, enabling to receive immediate indications regarding the status of any material and equipment. The labels can be easily positioned on the equipment, thus turning entire plants to smart plants.

 

The Company’s Technology

RetroFeel is based on a technology developed by Feelit, in which the smart labels use a nanomaterial-based ink that enables to measure structural information. Different changes in pressure and temperature create structural distortions in various objects. These distortions can be easily detected by using the innovative labels developed by Feelit, thus enabling to identify such changes easily and without any harm caused to the equipment. The unique technology developed by Feelit allows a connection of the sensors to a cloud-based platform, and through Machine Learning to predict potential damage to various machine parts in order to plan any needed replacement of these parts, before it leads to irreplaceable damage that will cause a complete failure of the machine.

 

Advantages of the product

RetroFeel, the product developed by Feelit, holds several advantages, allowing to save a significant amount of time and money:

  • Savings in products losses for the pharmaceuticals industry – For every pharmaceuticalsproducing plant, hundreds of thousands of dollars are lost in expensive pharmaceutical products and materials as a result of equipment failures. These downtimes create additional losses, such as delays in supply, which may damage the reputation of companies. By using Feelit's monitoring solutions, plants can avoid such losses by preventing unplanned downtime of the industrial equipment and reducing batch loss of expensive drugs.
  • Savings in maintenance costs and monitoring of structural integrity – Maintenance cost consists of approximately 70% of the overall cost of different components of the equipment. About 30% of maintenance cost derives directly from parameters that can be easily controlled, such as bad planning and execution of maintenance. With Feelit’s advanced technology, structural incidents can be easily tracked in advance. Thus, extending the usage of industrial equipment by preventing unpredictable failures and unnecessary and costly interventions in the equipment.
  • Advanced measuring technology – Feelit’s advanced ink formulations, allows to measure structures distortions and structural changes in material, in an unprecedented manner:
    • Pressure – Feelit’s unique printed nano-material enables to measure pressure with 75 times higher sensitivity than any existing sensors.
    • Temperature – Feelit’s advanced sensors can operate in a temperature ranging between -40 to 100 degrees Celsius.
    • Humidity – Sensitivity level of 0.7% RH
    • A combination of various parameters – Feelit’s advanced sensor is the first flexible label product that enables to simultaneously measure two to three out of the following three parameters: pressure, temperature, and humidity. Every other product in the market enables to measure only one of the three without any combination of the others.
    • Structural changes within the material – All the current products measure only external manifestations of change in material, such as vibrations and temperature. Feelit’s advanced sensors allow to measure structural changes inside the material itself, thus enabling to identify a wide range of structural defects:
      • Micro fractures
      • Loss of flexibility
      • Change of shape
      • Weakening
      • Micro vibrations
      • Ultra-low frequency vibrations
      • Leakage detections
      • Various problems resulting from inproper connections of equipment part

  • Simple, efficient, and economical installation – Nowadays, the installation of one pressure gauge costs up to thousands of dollars. Moreover, each installation requires a shutdown of the production line and to perform a mechanical intrusive installation within the production line. In contrast, acquiring and installing 10 units of RetroFeel, allows to monitor pressure at 10 points, for approximately 10 thousand dollars. It involves a simple installation that includes sticking of the sensors over different machines, without any need of shutdown of the production line. Therefore, RetroFeel turns entire plants to smart plants quickly while saving a great amount of money.

 

 

 

 

Team

Dr. Gady Konvalina
CEO and Co-founder
Biography
Dr. Konavlina has more than a decade of experience in research in the field of Chemical Engineering and Nanotechnology. After completing his B.Sc. (Cum Laude) in Chemical Engineering from the Technion – Israel Institute of Technology he worked in the microelectronics industry at Tower-Jazz Ltd. as a process engineer. In 2014 he received his Ph.D. from the Technion – Israel Institute of Technology based on his research on nanomaterial-based sensors under the supervision of Prof. Hossam Haick. In 2016, during his post-doctorate, Gady worked on the development of a touch sensing smart patch platform which laid the technological and business foundations for the spin-off Feelit.

  • Founder
Dr. Meital Segev-Bar
CTO and Co-founder
Biography
Dr. Segev-Bar has 8 years of combined industry and academic experience as a Material Engineering graduate from the Technion- Israel Institute of Technology. In 2016 she completed her Ph.D under the supervision of Prof. Haick, in the field of nanomaterial-based flexible sensors. Dr. Segev-Bar is an expert in the field of material engineering, leading interdisciplinary projects that apply micro-electronics, materials science and nanomaterial-based technologies. Recently, Dr. Segev-Bar was chosen as one of the 20 leading female young entrepreneurs in Israel. Dr. Segev-Bar holds a Ph.D from the Technion Israel Institute of Technology.

  • Founder
Oded Kraft
CBO and director
Biography
Oded brings over 20 years of global high-tech innovation, development, and business experience in startups and large corporates. Until recently, Oded served as the VP of Product Development at Kornit Digtal, which specializes in digital printing solutions for the textile market and is currently traded in NASDAQ. Previously, Oded served in executive business roles at GE Healthcare and as VP Product and Business Development in multiple medical sector companies, such as Roche and Mendingo, which was acquired by Roche in 2010 for $180M.

  • Director
Itzik Frid
Director
Biography
Itzik has over 10 years of intensive expertise in business development and in turning small startup companies into international business organizations. He was a Senior Adviser to the Israeli Minister of Finance, VP of Business Affairs at AmericaOnline. Currently, he is an elected Board member of IATI (Israel Advanced Technology Industries) and Managing Partner of Takwin Labs.

  • Director
Hagay Pollak
R&D Leader
Biography
Hagay has more than a decade of experience in development of products related to IOT and healthcare, including in Abbott Laboratories and in GE Healthcare. Hagay holds a master’s in computer science and an MBA, both from the Haifa University, and a certificate for Leading Innovative Change from UC Berkeley.

Prof. Hossam Haick
Advisor and Co-founder
Biography
Prof. Haick is world-class researcher in the fields of nanotechnology, machine learning, biochemistry, breath analysis, wearable medical devices and material engineering. Prof. Haick is a Full Professor in the Department of Chemical Engineering at the Technion – Israel Institute of Technology. Prof. Haick is included in several important lists, including the list of the world’s 35 leading young scientists published by MIT’s Technology Review, the Nominet Trust 100 list and the Los Angeles-based GOOD Magazine’s list of the 100 most influential people in the world.

  • Founder

Investors 36

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Updates

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The Deal

Documents

Disclosures

The financing rounds made through the ExitValley platform are in accordance with a model of statutory exemption from publishing a prospectus pursuant to sections 15A(A)(1) and 15A(A)(7) to the Israeli companies law - 1965.
Under our model, the disclosure of detailed information on the company and information about the investment in each round of financing are limited to not more than 35 investors which are not qualified investors and the round of financing in not in the format of an offering arrangement ("רכז הצעה") as defined in the securities law
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