Basetwo, a Toronto, Canada-based SaaS AI platform for manufacturers, announced that it secured $3.8 million in seed funding.
The round was led by Glasswing Ventures and Argon Ventures, with additional funding from Caffeinated Capital, Graphite Ventures, MaRs IAF, Pareto Holdings, Plug and Play, and Quiet Capital.
The funding supports the launch of the category-making Basetwo AI platform, a first-of-its-kind solution that enables process engineers to rapidly build digital twins of their manufacturing plants leveraging a familiar no-code interface.
Company: Basetwo Artificial Intelligence Inc.
Raised: $3.8M
Round: Seed Round
Funding Month: May 2022
Lead Investors: Glasswing Ventures and Argon Ventures
Additional Investors: Caffeinated Capital, Graphite Ventures, MaRs IAF, Pareto Holdings, Plug and Play, and Quiet Capital
Company Website: https://www.basetwo.ai/
Software Category: SaaS AI platform
About the Company: Basetwo is the first no-code AI platform that enables process engineers to rapidly build and operationalize digital twins in their manufacturing plants. The Company’s no-code approach brings highly sophisticated capabilities from pre-built models to data pipelines and integrations within a complex manufacturing process to a format familiar to process engineers. From process development to commercial manufacturing, manufacturers use the digital twins they build with Basetwo AI to improve process efficiencies across the value chain. Basetwo promotes the digitalization of manufacturing systems to foster intelligent manufacturing across the global supply chain. Basetwo’s platform powered by “physics-informed machine learning” is well suited for pharmaceutical manufacturing. Basetwo’s mission is to empower engineers to operationalize AI that they can understand and interpret to improve quality, transparency, and performance
Source: https://blog.basetwo.ai/basetwo-launches-ai-platform-for-manufacturing