AI manufacturing startup funding is on a tear as Switzerland’s EthonAI raises $16.5M

5 Min Read

As factories and manufacturing services have gotten “smarter” by sensors, robotics and different linked applied sciences, this has created a possible treasure trove of information that may be mined for insights on bottlenecks and different areas for enchancment. Or possibly even to only expedite processes that may in any other case require important handbook spadework.

However a lot of this generated information is unstructured and never simple to harness off the bat. Whereas huge information analytics has for years been a mainstay of industries resembling finance and logistics, it hasn’t totally made its means into the manufacturing realm. This has created an untapped gold mine of insights, and extra just lately a nascent marketplace for applied sciences designed each to seize and make sense of an unlimited array of producing information.

Final month, U.Okay.-founded Oden Applied sciences, now based mostly in New York, raised a $28.5 million Series B round to spur progress for its information analytics platform for producers. Germany’s Daedalus raised $21 million to use AI to precision-manufacturing factories. And Belgium’s Robovision secured $42 million to deliver laptop imaginative and prescient intelligence to industrial equipment.

Now it’s EthonAI’s flip, because the Swiss startup announced Thursday that it has raised CHF 15 million ($16.5 million) in a Collection A spherical of funding led by Index Ventures, with participation from Basic Catalyst, Earlybird and Founderful.

EthonAI co-founders Julian Senoner (CEO, left) and Bernhard Kratzwald (CTO, right) at a Siemens factory in Zug, Switzerland
EthonAI co-founders Julian Senoner (CEO, left) and Bernhard Kratzwald (CTO) at a Siemens manufacturing facility in Zug, Switzerland. Picture Credit: EthonAI
Picture Credit: EthonAI

EthonAI finds the defects in merchandise

Based out of Zurich in 2021 by CEO Julian Senoner and CTO Bernhard Kratzwald, EthonAI can prepare AI fashions for particular use instances, as an example in electronics manufacturing the place the client provides imagery of defect-free merchandise and EthonAI’s Inspector software program can then determine floor defects within the merchandise throughout the manufacturing and meeting course of. Apple just lately acquired an organization known as DarwinAI that serves an analogous function, by way of automating the visible high quality administration course of in part manufacturing.

See also  Chip industry could grow 13% in 2024 | Deloitte

Extra broadly, although, EthonAI can mix information from throughout an organization’s manufacturing setup, from sensors to line stops, and construct an image of the place issues are and aren’t working nicely — and even examine efficiency throughout a number of services to see the place there is perhaps room for enchancment.

In its three-year historical past, EthonAI has amassed some pretty high-profile prospects together with Siemens and chocolate-maker Lindt.

Digging down into EthonAI’s goal markets reveals that semiconductor manufacturing is one explicit space of focus, although the corporate hasn’t divulged any particular prospects on this area. Nevertheless, low yield is a recognized concern within the chip sector, the place defects within the silicon wafers can have an effect on the variety of precise usable chips post-production. Notably, Apple reportedly reached an settlement final yr with chipmaker TSMC that apparently had particularly low yield rates (simply 55% on the time), with Apple striking a deal to pay just for recognized good wafers — saving billions of {dollars} within the course of.

EthonAI, for its half, says it really works with a “main semiconductor producer” that makes use of its platform to merge a number of datasets to conduct evaluation and spot beforehand unknown relationships between processes, tools and yield charges.

“Manufacturing is at a crucial juncture, and corporations that fail to adapt with AI threat falling behind,” Senoner stated in a press launch. “Factories are producing mountains of information and AI is the important thing to unlocking insights to drive operational excellence.”

We’re launching an AI publication! Join right here to begin receiving it in your inboxes on June 5.

Source link

See also  AMD acquires Nod.ai to bolsters its AI software ecosystem
Share This Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Please enter CoinGecko Free Api Key to get this plugin works.