Invisible AI, a Palo Alto, CA-based state-of-the-art AI solution for manufacturing, announced that it closed a $15 million Series A funding round, bringing the company's total amount raised to $21 million.
New investor Van Tuyl Companies (VTC) led the round with participation from new investor FM Capital and existing investors 8VC, Sierra Ventures, K9 Ventures, and Vest Coast Capital.
The funding will be used to grow the team and meet rapidly growing demand from existing and new customers.
"Invisible AI is working with best-in-class manufacturers across automotive and other high-value industries to power cutting-edge factories to be safer and more efficient," said Eric Danziger, CEO of Invisible AI. "We are thrilled to be bringing on experienced and like-minded automotive and technology investors like VTC and FM Capital, and are also excited that automotive industry veteran Mark McNabb, Managing Director at VTC and former COO of Volkswagen of America and President & CEO of Maserati North America, will be joining our Board to help us grow and expand our company."
Invisible AI has built a scalable computer vision platform with the mission to accelerate the adoption of Industry 4.0 across global manufacturing. Invisible AI's industry-first, no-code, edge-based AI software serves as the eyes of the smart factory. Invisible AI’s vision platform tracks real-time human motion to help customers run accurate, reliable, and safe operations.
Invisible AI's technology uses edge-based AI devices with a built-in AI chipset, 1 TB of storage, and a high-resolution 3D camera to track activity across manufacturing facilities without using the cloud or any bandwidth.
Earlier this year, Invisible AI announced a partnership with Toyota Motor North America (TMNA) to integrate Invisible AI's innovative technology across Toyota's 14 North American manufacturing operations. The partnership kicked off with Toyota Indiana as the first TMNA manufacturing site to implement Invisible AI technology at scale, with an initial deployment of 500 edge-based AI devices in 2022.
Company: Invisible AI, Inc.
Raised: $15.0M
Round: Series A
Funding Month: September 2022
Lead Investors: Van Tuyl Companies (VTC)
Additional Investors: FM Capital and existing investors 8VC, Sierra Ventures, K9 Ventures, and Vest Coast Capital
Company Website: https://www.invisible.ai/
Software Category: Computer Vision Platform
About the Company: Founded in 2018 in San Francisco, California, Invisible AI provides the next-generation computer vision system that revolutionizes the data collecting process of manual operations for manufacturing companies and significantly improves the productivity, quality, and safety of manual operations. Invisible AI's simple, secure, and scalable system has gained tremendous traction. It has successfully deployed and delivered valuable results within hours for top manufacturing companies like Toyota North America. Invisible AI's mission is to empower manufacturing industries worldwide and accelerate the fourth industrial revolution.
Source: https://www.prnewswire.com/news-releases/invisible-ai-raises-15-million-series-a-to-rapidly-scale-innovative-computer-vision-platform-across-manufacturing-facilities-301635650.html