Axion Ray, a San Francisco, CA-based AI platform for proactive engineering management, raised $7.5 million in seed funding.
The round was co-led by Amplo and Inspired Capital, with participation from Boeing, Tinicum Venture Partners, and former executives from leading manufacturers such as General Motors.
The funding will fuel a wave of hires in engineering and artificial intelligence.
"Manufacturers are engineering increasingly complex products and integrity challenges have grown exponentially, impacting customer safety and satisfaction. Leaders want to react faster but learn about problems months too late. By leveraging advancements in artificial intelligence, including Generative AI, Axion helps manufacturers set up a proactive command center platform that empowers executives and engineers to respond in real time," says Daniel First, Founder & CEO at Axion. "Between supplier quality challenges, difficulties with software-rich products, and an engineering workforce with high turnover, enhancing product integrity has never been more important to our partners."
Enabled by new AI algorithms that synthesize unstructured data into actionable insights, Axion's technology flags engineering issues months earlier, allowing companies to intervene at the first signal and prevent losses from recalls.
The company works with manufacturers across industries to surface safety and quality risks mined from service networks, dealerships, connected sensors, production, supplier management, and other data sources.
Axion works with OEMs and suppliers across industries, Boeing, Penn Engineering, Cummins, and other manufacturers in aerospace, defense, automotive, and medical devices are among their rapidly expanding customer base.
Company: Axion Ray, Inc.
Raised: $7.5M
Round: Seed Round
Funding Month: February 2023
Lead Investors: Amplo and Inspired Capital
Additional Investors: Boeing and Tinicum Venture Partners
Company Website: https://www.axionray.com/
Software Category: Proactive Engineering Management
About the Company: Founded in 2021, Axion Ray is an AI-powered proactive intelligence platform for manufacturing teams that automates engineering and quality analytics. It extracts actionable insight from unstructured manufacturing data in real time. Axion Ray provides data aggregation, analysis, alerts, automated workflow management, and predictions of emerging quality issues. Its mission is to create the world’s best automotive engineering management analytics platform, powered by machine learning. The company is headquartered in San Francisco.
Source: https://www.prnewswire.com/news-releases/axion-ray-the-ai-platform-for-proactive-engineering-management-raises-7-5m-to-enhance-product-integrity-at-scale-301748463.html