Invisible AI raises $15M to scale no-code computer vision platform for the manufacturing industry
Invisible AI, a provider of next-generation computer vision systems, has announced it raised a $15 million Series A investment. A new investor, Van Tuyl Companies, led this funding round to increase the total amount raised to $21 million. Other organizations participating in the investment round include FM Capital, 8VC, Sierra Ventures, K9 Ventures and Vest Coast Capital.
Invisible AI’s computer vision technology works with the company’s no-code, edge-based AI software platform, enabling developers to easily build AI applications for smart manufacturing systems and accelerate the adoption of Industry 4.0. The company plans to use the funds to grow its team and expand to meet the increasing demand from existing and new customers.
This company has experienced rapid expansion in large-scale implementation by putting its technology in six facilities, with another eight on the way over the next six months, according to executives.
Earlier this year, the company announced a partnership with Toyota Motor North America to integrate its computer vision solution across Toyota’s fourteen manufacturing plants. The automotive company relies on Invisible AI solutions to gain practical insights into its assembly lines.
The technology essentially offers a secure computer vision platform. Its key application tracks employee body movement to improve the manual assembly process in manufacturing facilities. The solution can provide real-time feedback to improve quality, ensure safety and increase productivity at scale.
To grow in the automotive manufacturing plants, Invisible AI has onboarded automotive industry veteran Mark McNabb, a managing director at VTC. McNabb previously worked as the chief operating officer with Volkswagen of America and president and CEO at Maserati North America. Adding McNabb will help Invisible AI better understand the automotive industry and grow and expand its computer vision platform.
“What Invisible AI stands to offer for manufacturing is truly revolutionary,” said Mark McNabb. “VTC is excited to work with Eric, Prateek, and the entire Invisible AI team to offer best-in-class solutions for manufacturers.”
Invisible AI technology is equipped with edge AI devices powered by an AI chipset. It offers 1TB of storage with a high-resolution 3D camera tracking activity across manufacturing plants. The software takes real-time actions to identify the potential for high-stress injuries and prevent simple defects. The platform maintains anonymity and privacy through its design. End users can deploy it quickly without needing coding and engineering expertise.
Article Topics
computer vision | edge AI | Industry 4.0 | Invisible AI | Toyota | venture capital
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