Fero Labs, the only Explainable Machine Learning software solely dedicated to the industrial sector, announced the closing of a $9 million Series A round led by Innovation Endeavors, with participation from Deutsche Invest VC.
This funding will support Fero Labs is expanding its product offerings to new sectors and ultimately push the industrial manufacturing community forward.
Company: Fero Labs Inc.
Round: Series A
Funding Month: July 2021
Lead Investors: Innovation Endeavors
Additional Investors: Deutsche Invest VC
Company Website: https://www.ferolabs.com/
Software Category: machine learning software
About the Company: Fero Labs is an explainable machine learning software that is powering the next wave of industrial process optimization. Since launching in 2015, Fero Labs has built actionable machine learning for the industrial sector to optimize production, reduce waste, and improve quality. Headquartered in New York, Fero Labs aligns with leading global manufacturers to increase profitability by up to 10% through reducing raw material consumption, improving quality, and hitting critical sustainability goals.