MODE, a San Mateo, California-based company specializing in providing solutions that advance digital transformation at factories and construction sites through the power of the Internet of Things (IoT) and generative AI, has closed $8.75 million in Series B funding.
Investors
The investment comes from a consortium of investors, including SBI Investment Co., Ltd., True Ventures, JR East Startup Co., Ltd., and Daiichi Jitsugyo Co., Ltd.
MODE Use of Funds
The company will use the funding to accelerate the development of the "BizStack AI Assistant. Additionally, MODE plans to expand its presence in the North American market, focusing on customer acquisition and global partnerships.
About MODE
MODE is a company that makes BizStack, a platform that turns IoT device data into valuable insights and helps accelerate digital transformation for factories, construction sites, and similar industries where physical devices collect data. By utilizing IoT and generative AI technologies, MODE aims to connect, store, and visualize those datasets from various industries - making digital transformation a reality at the operational level. The company collaborates with clients and partners to uncover insights hidden in their sensor data.
Funding Details
Company: MODE, Inc.
Raised: $8.75M
Round: Series B
Funding Month: April 2024
Investors: SBI Investment Co., Ltd., True Ventures, JR East Startup Co., Ltd., and Daiichi Jitsugyo Co., Ltd.
Company Website: https://www.tinkermode.com/
Software Category: AI Assistant
Source: https://www.newswire.com/news/mode-inc-to-drive-global-expansion-with-generative-ai-and-iot-22294221