DarwinAI, a Waterloo, Canada-based innovative Industry 4.0 company that is transforming manufacturing by instilling trust in artificial intelligence (AI), has announced a $6 million investment.
The round was led by BDC Capital’s Deep Tech Venture Fund, with participation from new and existing investors.The investment extends the capital raised through previous investment rounds led by Honeywell Ventures, Obvious Ventures and Inovia Capital.
The new funding will enable the company to make the system more robust for mass market deployment and ramp up hardware production, as they anticipate serving more customers in 2023.
Sheldon Fernandez, DarwinAI’s CEO explains: “The global shortage of semiconductors and PCBs, exemplified by the recent CHIPS act, has given rise to circumstances that favor disruption. While we were not the first to take note of this fact, it occurred to us that no one was building a product that combined Artificial Intelligence, hardware, and software into a system that was easy to integrate into the electronics manufacturing process. This is what intrigued us: by making it straightforward to deploy inspection units and analyze data, clients can install them in novel locations and enable completely new capabilities such as returned product verification, process auditing and retrospective quality inspection.”
DarwinAI’s initial focus is to disrupt the electronics manufacturing industry by improving the efficiency of Printed Circuit Board Assembly (PCBA) production through their ground-breaking technology.
Company: DarwinAI Corp.
Raised: $6.0M
Round: Unknown
Funding Month: December 2022
Lead Investors: BDC Capital
Additional Investors: Honeywell Ventures, Obvious Ventures, and Inovia Capital
Company Website: https://darwinai.com/
Software Category: Defect Detection platform
About the Company: DarwinAI is an innovative Industry 4.0 company that is transforming manufacturing by instilling trust in AI. The company’s visual quality inspection system provides Electronics (PCBA) manufacturers with an end-to-end system to improve product quality and production efficiency. Numerous Fortune 500 companies have adopted DarwinAI’s patented technology to integrate AI and create tangible value.
Source: https://www.businesswire.com/news/home/20221215005002/en/DarwinAI-brings-AI-powered-Visual-Quality-Inspection-to-market-and-announces-a-funding-round-led-by-BDC-Capital-to-accelerate-growth