DeepHow, a Detroit, Michigan-based AI company that turns technical know-how into smart, how-to training videos, closed $14 million in Series A funding.
The round was led by Owl Ventures, with participation from another new investor: LG Technology Ventures. Existing investors Sierra Ventures, Qualcomm Ventures, Osage Venture Partners, and Foothill Ventures also participated in this round.
The company plans to use the funds to invest in go-to-market initiatives and ramp up its investments in product, engineering, and generative AI innovation.
"Today, manufacturers are under intense pressure to improve efficiency and reduce costs while meeting growing customer demands. At the heart of this transformation is Industry 4.0, which leverages advanced technologies such as AI, IoT, and automation to achieve operational excellence," said Dr. Sam Zheng, CEO and co-founder of DeepHow. "Realizing the full potential of Industry 4.0 requires more than just technology investment, it also requires a strategic approach to capturing, sharing, and transferring knowledge across teams and departments. This oversubscribed Series A round underscores that our investors share our vision. It also demonstrates their confidence in our ability to build on our technical leadership and accelerate our go-to-market operations."
Company: DeepHow Corporation
Raised: $14.0M
Round: Series A
Funding Month: April 2023
Lead Investors: Owl Ventures
Additional Investors: LG Technology Ventures, Sierra Ventures, Qualcomm Ventures, Osage Venture Partners, and Foothill Ventures
Company Website: https://www.deephow.com/
Software Category: AI-Powered Video-Centric Knowledge-Capture and Learning Platform
About the Company: Founded in 2018, DeepHow developed an AI-powered, video-centric knowledge-capture and learning platform that bridges the skills gap in the manufacturing, service, and construction industries. DeepHow enables teams to capture their know-how using a smartphone, turning expertise into step-by-step how-to videos that can be translated into multiple languages in a matter of minutes, to create a unique and extremely valuable library of organizational knowledge that can be effectively transferred to every worker. DeepHow streamlines the capture and transfer of technical skills and know-how — compressing project time by 10x, boosting worker performance by 25% and dramatically reducing overall training and development costs.
Source: https://www.prnewswire.com/news-releases/deephow-raises-14m-series-a-funding-to-transform-how-enterprises-capture-and-transfer-technical-know-how-301809091.html