Following the successful start in Switzerland, Irmos Technologies, a solution provider for maintenance decision intelligence of buildings and bridges, has signed its first customer deal in Greece and started a large-scale pilot in New York.
Since many buildings and bridges are old, natural calamities like earthquakes or floods jeopardize further their structural safety. Maintenance decisions still rely on visual inspection. ETH spin-off Irmos Technologies was founded in 2023 with the goal to maximize the safe operational life of existing buildings and bridges with sensor data and intelligent algorithms.
The startup developed a software platform, which coupled with customized cost-efficient sensors, translates vibrations of buildings and bridges due to wind or traffic into structural condition metrics for predictive maintenance planning – without hindering operations or generating noise. Engineers and owners of large building and bridge portfolios rely on the data to make sure that maintenance is done when and where is needed. This way owners drastically optimize maintenance costs and prevent business downtime without compromising safety.
Additionally, the company provides early warning alarms in case of earthquakes and rapid damage assessment in the aftermath of natural or human-caused disasters to minimize casualties and downtime, when every second counts.
Since the go-live in July 2023, in Switzerland, the startup has acquired seven clients including AXA real estate, the Federal Office for Roads (Astra), armasuisse real estate and Swiss Prime Site. Wireless sensors were placed on the accessible parts of the bridge or building, to measure vibrations generated by wind or traffic, without interrupting the assets' operation. Irmos’ fully automated data transmission and analysis processes subsequently extracts the vibration patterns of the infrastructure in real time, allowing customers to optimize the structural retrofit, saving costs, material, and reducing CO2 emissions. Building on their initial successful references, the first customers already deploy the Irmos solution to further assets.
Global reach with first customer in Greece
Beyond Swiss borders, Irmos is gaining international attention from key partners and customers. Most recently, the company started a one-year pilot project on bridges owned by The Port Authority of New York & New Jersey, laying a foundation for further projects in the US as interest from public authorities continues to grow. Additionally, the company has won its first customer in Greece for a multi-year contract.
In 18 months since incorporation, Irmos Technologies already generates significant revenue and will soon reach to one million Swiss Francs, demonstrating the demand and trust companies place in their innovative solution. Parallel to their revenue, the startup and its team of nine employees have secured funding through awards and grants from Innosuisse, Gebert Rüf foundataion, and Venture Kick. The company also won the first place in last year’s Swiss Innovation Challenge, as well as the first prize for innovation from Die Autobahn GmbH in Germany. An equity round is planned to open in Q4 2024 to fuel the company’s international growth.
(RAN)
Photo: Irmos team - Panagiotis Martakis, Yves Reuland, Christos Lataniotis & Cyprien Hoelzl
The new Swiss Venture Capital Report was published on 26 January. It analyses 304 financing rounds closed in 2020 and includes further article such as an interview with Michael Hengartner, President of the ETH Board, and a list of Swiss "soonicorns". 
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