Alitheon, a Bellevue, Washington-based optical AI technology company, raised $10 million in Series A funding.
The round was co-led by BMW iVentures, which had previously invested in the company's seed round, and Imagine Ventures, a Seattle-based venture capital firm.
With the new capital, Alitheon aims to invest in new talent and accelerate its sales and marketing efforts to fuel the expansion of its FeaturePrint technology across more industries.
Alitheon's patented FeaturePrint technology creates for items what fingerprints are for people—a one-of-a-kind, unique identifier that does not require any changes to the item. By capturing an item's image with a standard off-the-shelf camera, the FeaturePrint Optical AI "sees" and renders minuscule surface details of the item into its unique profile.
At the beginning of this year, Alitheon named Roei Ganzarski its new CEO. Roei is a seasoned technology leader who previously served as CEO of magniX and Executive Chairman of Eviation, two disruptive companies in the aerospace and transportation industries.
Company: Alitheon, Inc.
Round: Series A
Funding Month: September 2022
Lead Investors: BMW iVentures, and Imagine Ventures
Company Website: https://www.alitheon.com/
Software Category: Optical AI Software
About the Company: Launched in 2017 and based in Bellevue, Washington, Alitheon is the leader in advanced optical AI and creator of FeaturePrint®, a patented system connecting the physical and digital worlds via a secure and immutable link. Alitheon designed FeaturePrint to be easy to use, which does not require any special hardware investment, change to the manufacturing line, or physical change to the item. Alitheon is solving identification, authentication, and traceability challenges across multiple industries, including automotive, aerospace, collectibles, industrial manufacturing, luxury goods, medical, and precious metals. Its technology is already being used by multiple customers and has been integrated into global operations.