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Founder: Nick Gunady
Established: 2023
Top executives:
- Nick Gunady, CEO
- Thomas Chen, chief technology officer
- Daniel DeLaurentis, chief scientist
Equity raised: $1 million pre-seed round
2024 revenue: $227,000
Projected 2025 revenue: $1.1 million
Employees: 5
Location: West Lafayette
Affiliation: Purdue University
Patents: The company’s technology is based on research by founder Nick Gunady with a graduate and undergraduate team while he was pursuing a doctorate at Purdue University. The Purdue Innovates Office of Technology Commercialization licensed the resulting patent to Aerovy.
What does the company do? Aerovy develops cloud software and AI to enable hardware companies to quickly and effectively develop and deploy platforms for their devices.
What problem is it trying to solve? “Building software is a huge distraction for hardware companies and is a massive burden on cost,” Aerovy said. In fact, original equipment manufacturers can spend more than three years and $5 million to deploy cloud-enabled software to go with their products. “Aerovy solves this problem by establishing a tight-knit integration between embedded code on the hardware device with pre-build cloud services that hardware OEMs need,” the company said.
Latest news: Aerovy has been accepted to Plug and Play accelerator in Seattle.
Why Aerovy made the list: The intellectual property that Aerovy spun out of Purdue was focused on advanced air mobility, and the company developed an energy management tool for electric aircraft. The company has since pivoted by expanding its offerings to support hardware companies that need companion software. The result is a larger suite of tools. In addition to energy management, Aerovy offers technology for fleet and asset management, commerce and transactions, maintenance and reliability, and other functions.•
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