Profet AI, a Taiwan-based software company that provides an end-to-end, no-code AutoML platform, raised $5.6 million in a Series A funding round led by Darwin Ventures.
Other investors in this round include Hive Ventures, AUO, SVTI, Harbinger Venture Capital, and Jensen Capital Management.
With this funding, Profet AI aims to expand overseas into Japan, China, and select Southeast Asian markets, and to further develop its products.
“Profet AI is designed for rapid model development and deployment to deliver instant time to value for enterprises around the world,” said Jerry Huang, founder, and CEO of Profet AI. “Our solutions have been very well-received in Taiwan, giving us confidence that we can deliver value to more enterprises in other markets—beginning with Japan, Southeast Asia, and China. We will be looking at establishing joint ventures with strong partners in overseas markets to ensure the right product/market fit for each location, and we look forward to supporting more companies in leveraging the power of machine learning in the coming year.”
Profet AI has two flagship solutions. One is its Virtual Data Scientist Platform, a no-code development platform powered by its AutoML engine. The second is ready-to-go applications, a library of tried-and-tested industry-specific AI applications that provide a plug-and-play experience. The products are suitable for both public cloud and on-premises deployment.
The company has gained over 100 customers across 12 industries, doubling its revenue in 2022. Its clients include electronics manufacturer Qisda Corporation, textile company Everest Textile, and optoelectronics solutions provider AUO.
Company: PROFET AI TECHNOLOGY CO., LTD.
Raised: $5.6M
Round: Series A
Funding Month: January 2023
Lead Investors: Darwin Ventures
Additional Investors:
Company Website: https://www.profetai.com/
Software Category: no code AutoML platform
About the Company: Founded in 2018, Profet AI is an AI software company that provides an end-to-end, no-code AutoML platform that empowers industry domain/IT experts to rapidly build high-quality prediction models and deploy industrial AI applications to solve their everyday production and digitalization challenges. It also provides a restful API for integration with external systems. The company is widely adopted by leading customers across industries, including leading EMS, Semi-OSAT, PCB, IC design houses, display panels, and materials solution providers. Its mission is to create a manufacturing-specific and first-class end-to-end AI machine-learning automation solution to help the manufacturing industry accelerate digitization and innovation.
Source: https://venturebeat.com/ai/ai-startup-looks-to-transform-data-into-ai-models-and-applications-closes-series-a-funding/