Retrocausal, a Seattle, WA-based startup that uses AI technology to help manufacturers and their employees has raised $5.3 million in an investment, bringing its total funding to $9.75 million.
The round was led by Glasswing Ventures, One Way Ventures, and Indicator Ventures, with participation from Argon Ventures, Differential Ventures, Ascend Vietnam Ventures, Incubate Fund US, SaaS Ventures, Hypertherm Ventures, Stage Venture Partners, and Techstars.
Founded in 2016, Glasswing Ventures is a venture capital firm based in Boston, Massachusetts. The firm seeks to make investments in early-stage companies operating in the marketing technology, security, software, artificial intelligence, and social cognition sectors.
One Way Ventures is a venture capital fund for immigrant tech founders in the United States and Canada. Founded in 2017, the firm prefers to invest in seed-stage and early-stage companies.
Indicator Ventures is a pre-seed and seed-stage venture capital firm investing in founders building software that makes work, life, and wealth-building easier and more accessible.
Retrocausal Use of Funds
The company will use the funding to further develop the technology and expand Retrocausal's customer base.
Founded in 2019, Retrocausal is a company that provides a manufacturing process management platform. Retrocasual uses AI technology to provide real-time instructions and feedback to manufacturing employees on the factory floor, aiming to help untrained workers become more productive. The software works with cameras and other tools like barcode scanners and also compiles statistics and reports into an analytics dashboard. Retrocausal helps manufacturing assembly operators avoid mistakes, industrial and quality engineers improve processes, and operations managers track production. The company opened a new office in Dallas earlier this year to be closer to customers in the Midwest and Mexico. Customers include Honda, Siemens, and others.
Company: Retrocausal, Inc.
Round: Series A
Funding Month: November 2023
Lead Investors: Glasswing Ventures, One Way Ventures, and Indicator Ventures
Additional Investors: Argon Ventures, Differential Ventures, Ascend Vietnam Ventures, Incubate Fund US, SaaS Ventures, Hypertherm Ventures, Stage Venture Partners, and Techstars
Company Website: https://retrocausal.ai/
Software Category: Manufacturing Software