JITbase, a Montréal, Canada-based SaaS startup, raised $650,000 in Seed round led by Canadian investment firm Bluesky Equities, aerospace manufacturing company Leesta, Québec tech investor Boreal Ventures and several, undisclosed angel investors from the United States and Canada, to scale its novel CNC machine management software.
The Montreal-based startup will use the funds to expand its in-house team, increase implantation capacity with new customers, further develop software capabilities, and accelerate the conquest of international markets.
Company: JITbase
Raised: $650.0K
Round: Seed Round
Funding Month: September 2021
Leading Investors: Bluesky Equities, Leesta, and Boreal Ventures
Additional Investors: undisclosed angel investors from the United States and Canada
Company Website: https://www.jitbase.com/
Software Category: CNC machine management software
About the Company: JITbase, a graduate of Founder Institute pre-accelerator in Montreal, is smart manufacturing software that calculates the optimal sequence of machinist activities on the shop floor. Being proactive, machinists manage more CNC machines and make informed decisions that lead to increased uptime. JITbase OPS (Optimal Path System) guides the CNC operator in telling the next action to perform, thanks to optimization algorithms. Refreshed in real-time with machine data, OPS optimizes the interaction between humans and machines. The output is an increase of CNC machine uptime (+10-25%) and a reduction of the ratio operator/machine (-50%). JITbase offers specialized Artificial Intelligence (AI) and Industrial Internet of Things (IIoT) technology for high-precision CNC machines typically used in heavy manufacturing. Its novel Optimal Path System (OPS) uses AI to calculate actions and sequences for individual machinists and coordinate activity across the entire production workflow in real-time, further enhanced with data monitoring and analytics.
Source: https://fi.co/insight/manufacturing-tech-jitbase-secures-seed-funding-round https://betakit.com/jitbase-raises-650000-in-seed-funding-to-accelerate-smart-manufacturing-software/