Shell has become the owner of MachineMax, acquiring the stakes held by MachineMax’s two other investors—BCG Digital Ventures and B Capital Group—as well as those of the company’s two founders. MachineMax helps companies to maximize the profitability and efficiency of their off-highway fleets using smart sensors and analytics. MachineMax will continue to operate as a stand-alone organization that benefits from being within Shell’s newly formed Sectors and Decarbonization business, which consists of sectoral teams who will offer MachineMax solutions to mining, construction, manufacturing and agriculture customers, a press release detailed.
Shweta Saxena, co-founder and the current chief product officer for MachineMax, will take over the position of CEO from Amit Rai, the company’s other co-founder, as of June 30. MachineMax has operations based in London as well as Hyderabad, India, and serves more than 70 customers across 30 markets in six continents.
“We see great potential for MachineMax to mature as a Shell Group business, given its innovative digital solutions. [It] can immediately help companies from many of our core customer sectors reduce their emissions and deliver cost savings—two factors under close corporate scrutiny,” said Carlos Maurer, Shell executive vice president of sectors and decarbonization.
“Our growth to date has benefited from our connection to Shell and our access to the company’s extensive and experienced customer sales teams around the world,” said Shweta Saxena, CEO of MachineMax. “And MachineMax will benefit from Shell’s commitment to innovation as a key lever to help accelerate decarbonization pathways as well as to R&D to grow solutions that customers need to help avoid and reduce their emissions.”
MachineMax offers a digital service that is designed for off-highway vehicles located anywhere in the world. It is powered by a wireless smart sensor that fits near the engine of any off-highway fleet vehicle. Using artificial intelligence, it quickly creates a machine signature to track vehicles, measure idling and generate other utilization analytics. Cloud computing is used to deliver real-time data and analysis to operators and site managers with an easy to use interface that can help them optimize their fleet operations and preventative maintenance programs.
