Despite COVID’s push, being the great accelerator that it is, towards digitization and handing previously manual labor over to the trusting and still learning AI brain, manufacturers are lagging behind the transition to AI and ML based technologies. Oftentimes, even if an enterprise is willing, the adoption and implementation process is more complexed then it seems, due to data chaos and random algorithms.
Israeli startup Vanti Analytics, which develops autonomous Machine-Learning technologies for manufacturing data analysis, announced a $4.5 million Seed funding round. The investment was led by Silicon Valley, True Ventures, and More VC, with participation from i3 Equity Partners.
Identifying production line failures
Vanti states that manufacturing companies today are in a continuous race to launch the latest technology, meet market demands and stay competitive while maintaining the highest standards of quality. The manufacturing AI startup is leveraging its founding team’s vast experience across a multitude of different industries to develop a self-service platform that helps manufacturing operations teams increase yields and throughput for electronic products.
Vanti's SaaS software platform autonomously leverages Machine-Learning technologies to significantly reduce ramp-up time, errors and test time for electronics manufacturers. The platform aims to empower all manufacturers to meet their goals by putting the data they collect to better use. However, before you go hiring a team of skilled data-scientists, Vanti’s platform requires no prior data-science education, and its simplified approach to actionable insight allows manufacturers to optimize quickly and see an increase in productivity within just hours of deployment.
"As a manufacturer in a very competitive environment, we're always looking to speed up ramp-up time and serve our customers with the highest quality, volume and price," said Omer Keilaf, CEO and co-founder of Innoviz Technologies, a leading supplier of LiDAR for the automotive industry. "That's exactly where Vanti's platform comes into the picture. We liked how fast it was integrated and demonstrated value leveraging our operations data."
Vanti Analytics was founded in 2019 by CEO Smadar David and CTO Niro Osiroff. As part of the raise, Vanti has welcomed Rohit Sharma, partner at True Ventures, to the company's board, along with Meir Ukeles, partner at More VC. This current round brings Vanti’s total funds raised to $6 million to date.
"We like to partner with founders who have, foremost, worked together successfully and also tangled with a problem firsthand before offering a scalable solution to customers," said Rohit Sharma. "Smadar and Niro bring a unique perspective to the improvement of manufacturer analytics given their deep expertise in machine learning as it applies to semiconductor and electronics manufacturing."