EthonAI, a Zurich, Switzerland-based AI-powered manufacturing startup, raised CHF 15 million ($16.5M) in Series A funding.
Investors
The round was led by Index Ventures, with continued support from existing investors General Catalyst, Earlybird, and Founderful.
Index Ventures is a venture capital firm based in London, San Francisco, and Geneva, helping entrepreneurs turn bold ideas into global businesses. Founded in 1996, the firm seeks to invest in companies operating in AI, machine learning, business applications, data, entertainment, fintech, the future of work, healthcare, media, mobility, open source, retail, security, and talent sectors.
EthonAI Use of Funds
The company will use the funds to accelerate its enterprise expansion and enhance its AI capabilities.
About EthonAI
Founded in 2021 by Julian Senoner and Bernhard Kratzwald, EthonAI provides an AI-enabled platform designed to detect and prevent quality defects in manufacturing. Its Manufacturing Analytics System (MAS) leverages AI to provide engineers and managers a ‘sixth sense’ with unprecedented insights into factory operations. EthonAI has already garnered a diverse customer base, including Fortune 500 companies and industry leaders like Siemens Smart Infrastructure and Lindt & Sprüngli.
Funding Details
Company: EthonAI AG
Raised: $16.5M
Round: Series A
Funding Month: May 2024
Lead Investors: Index Ventures
Additional Investors: General Catalyst, Earlybird, Founderful
Company Website: https://ethon.ai/
Software Category: Manufacturing Analytics
Source: https://ethon.ai/news/ethonai-closes-chf-15m-series-a-financing-round/