Mo, Jun 3rd 2024
EthonAI secures CHF 15m to advance its AI-driven Manufacturing Analytics System, enhancing factory efficiency and reducing waste.
EthonAI, a leader in AI-powered manufacturing analytics, has raised CHF 15m in Series A funding. This round was led by Index Ventures, with General Catalyst, Earlybird, and Founderful also participating. They claim in a press release.
The funds will support the development and deployment of EthonAI’s Manufacturing Analytics System (MAS), designed to enhance factory operations by leveraging AI.
Founded in 2021 by Julian Senoner (CEO) and Bernhard Kratzwald (CTO), EthonAI aims to revolutionize the manufacturing sector, which has lagged in adopting data analytics.
Senoner and Kratzwald, both PhD graduates from ETH Zurich, partnered with Professor Torbjørn Netland to commercialize their research on AI applications in manufacturing.
The MAS platform uses AI to provide engineers and managers with real-time insights into factory operations. This helps in identifying defects, improving processes, and reducing waste by up to 50%.
Katharina Wilhelm, partner at Index Ventures, emphasized that EthonAI’s technology helps manufacturers utilize their data effectively, transforming operations from reactive to proactive.
EthonAI’s clients include major corporations like Siemens and Lindt & Sprüngli. Siemens has implemented MAS in its Zug factory, focusing on quality control and analysis, with plans to expand across Europe and the US.
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