Librestream Secures Strategic Investment To Advance Industrial Workforce Transformation

by NeoTech Post
Librestream Secures Strategic Investment To Advance Industrial Workforce Transformation

Librestream, a provider of augmented reality and remote collaboration solutions, secured strategic investments from Honeywell and Evergy Ventures, a nonregulated subsidiary of U.S. energy company, Evergy. 

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. 

Librestream transforms workforces through advanced AR and AI solutions that scale knowledge across businesses to enhance safety, efficiency, and resiliency. The Librestream Onsight augmented reality knowledge platform helps workers and distributed teams gain immediate access to the content, people, relevant data, and guidance needed to solve business challenges. 

The company’s customer base includes energy, manufacturing, service, aerospace, and defense enterprises with aggregate annual revenues totaling $3.2 trillion. 

President and CEO of Librestream, John Bishop, said, “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.”

Charles Vaslet, Partner at cleantech venture capital firm – Emerald Ventures, a Librestream investor since 2016, said, “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.”

Image Credit: Librestream