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        AssetWatch, a provider of continuous condition monitoring solutions, has raised USD 38 million in a Series B funding round Led by Wellington Management, with participation from G2 Venture Partners, Triangle Peak Partners, Standard Investments, Osage University Partners, and JobsOhio Growth Capital Fund.
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        The company plans to use the funds to accelerate innovation and support the expansion of the business.
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    <a href="https://www.einnews.com/pr_news/711554581/assetwatch-raises-series-b-funding-round-to-accelerate-innovation-in-predictive-maintenance">
      Press release
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Smart Factory

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 <p>AssetWatch, a company offering constant condition monitoring solutions, has gathered $38 million in a Series B funding round. The round was spearheaded by Wellington Management, and saw participation from other firms including G2 Venture Partners, Triangle Peak Partners, Standard Investments, Osage University Partners, and JobsOhio Growth Capital Fund.</p>
 <p>The intended use for the acquired funds is to hasten innovation and back the business' expansion.</p>
 
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AssetWatch raised USD 38 million in Series B funding to accelerate innovation

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<p>Mimic Robotics, a Swiss manufacturer specializing in robotic technology, has successfully raised EUR 2.3 million (~USD 2.47 million) in a pre-seed funding round. This round was led by Founderful and saw participation from another.vc, Tiny.vc, and several angel investors.</p>

<p>The fundraising will enable the company to continue developing its base AI model and humanoid robotic arm, with plans to launch these products by the year's end of 2024.</p>

<p>Mimic, which is based in Switzerland, offers a multi-purpose robotic arm that imitates human hand movements, capable of performing tasks requiring complex motor skills. To achieve this, the company uses a foundational AI model that enables the robot to understand and interact with the physical world, requiring minimal demonstrations and engineering resources for programming.</p>

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Mimic raises EUR 2.3 million in pre-seed funding

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 <p>Mavarick, an Irish firm providing a data analytics platform for manufacturing, has secured EUR 1.3 million in a venture funding round. The round was led by ACT Venture Capital and had participation from private investors.</p>
 <p>This obtained fund will be utilized for the company's international expansion, product development and team expansion initiatives. By the end of July, Mavarick aims to recruit five new team members in technical roles like developers and data scientists, along with marketing roles.</p>
 <p>Operating from Ireland, Mavarick's data analytics platform assists users in overseeing manufacturing operations and formulating informed sustainability decisions. This platform provides solutions aimed at reducing carbon emissions, optimizing energy use, enhancing asset and operator efficiency, and enabling machine monitoring. Industries primarily served by the company include aerospace, medical device manufacturing, plastic manufacturing, food, and automotive manufacturing.</p>
 
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Mavarick raises EUR 1.3 million in venture funding to expand internationally

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 <p>Deltia, an industrial data analytics platform based in Germany, has successfully secured EUR 4.5 million (~USD 4.8 million) in a seed funding round. The round was spearheaded by Cavalry Ventures and also saw participation from Merantix.</p>
 <p>The company plans on employing the fresh capital to expedite its customer onboarding process. Deltia offers unique data analytics solutions designed for enhancing assembly line productivity. This is achieved by integrating AI and computer vision technology with station-mounted cameras. This setup allows users to closely monitor and analyze manual operations in real-time, on their shop floor.</p>
 <p>Beyond just monitoring, Deltia also allows users to incorporate data from their IT systems, including ERP and MES. This functionality enables the digitization of manual manufacturing processes, covering areas such as assembly, packaging, and machinery adjustments.&nbsp;</p>
 
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Deltia raises EUR 4.5 million in seed funding to expand customer base

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

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 <p>Industrial automation and digital transformation solutions provider, Rockwell Automation has formed a partnership with Microsoft. The collaboration will result in new industrial automation solutions.</p>
 <p>Rockwell Automation will integrate its "FactoryTalk" edge and cloud solutions with Microsoft Azure’s adaptive cloud. This allows customers to access AI-assisted design, connected data, and optimised production.</p>
 <p>Additionally, the company will merge its Plex manufacturing execution system (MES) and DataMosaix, a factory data analytics solution, with Microsoft's Cloud for Manufacturing. This integration aims to enable manufacturers to carry out predictive maintenance and root cause analysis.</p>
 
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Rockwell Automation partners with Microsoft to launch new industrial automation solutions

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 <p>Siemens, a renowned industry powerhouse, has entered into a Memorandum of Understanding (MOU) with Schaeffler, the German automotive technology giant. This collaborative relationship aims to develop cutting-edge Artificial Intelligence (AI) solutions specifically designed for the industrial sector.</p>
 <p>The partnership involves the integration of Siemens Industrial Copilot, a solution dedicated to industrial automation, with a robotic cell owned by Schaeffler Special Machinery, a subdivision of Schaeffler that focuses on special machine construction. This incorporation aims to enhance the overall operational efficiency in the industrial scene.&nbsp;</p>
 <p>By employing AI technology, Siemens and Schaeffler anticipate generating programming codes utilized in manufacturing processes. Furthermore, the AI solution will also serve in diagnosing potential causes of errors in the processes, thereby ensuring seamless operations and reducing production downtime.&nbsp;</p>
 
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Siemens partners with Schaeffler to develop AI-powered solutions for use in industrial sector

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 <p>Oden Technologies, a manufacturing analytics company, recently secured funding of USD 28.5 million in a Series B round. The round was led by Nordstjernan Growth and witnessed participation from Flat Capital, Oden Customer INX International, Atomico, and EQT Ventures.</p>
 
 <p>With this investment, the company intends to advance its product development, particularly enhancing its AI products for the manufacturing industry. It also seeks to improve data accuracy, disseminate domain knowledge, and expand recommendation capabilities. </p>
 
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Oden Technologies raises USD 28.5 million in Series B funding

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 <p>Collaborative Robotics, a cobots manufacturer, secured USD 100 million in a Series B funding round. General Catalyst led the round, with Bison Ventures, Industry Ventures, Lux Capital, Sequoia Capital, Khosla Ventures, and Mayo Clinic also participating. The company's total funding now exceeds USD 140 million.</p>
 
<p>Plans for the raised funds include increasing the company's employee base and enhancing its commercial deployments.</p>
 
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Collaborative Robotics raises USD 100 million in Series B funding for team expansion and product deployment

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 <p>AI-based computer vision platform Robovision has successfully raised USD 42 million in a funding round led by Target Global and Astanor Ventures, also supported by Red River West. This new injection of funds increases the company's total funding to USD 65 million.</p>
 <p>Robovision plans to allot the funds to its expansion plans into the US market, as well as bolstering growth in its existing markets. The funding will also support further research and development activities. Furthermore, the company intends to establish new offices in key locations including France, Germany, the United Kingdom, the Middle East, and several parts of Asia.</p>
 <p>Operating from Belgium, Robovision provides a unique no-code platform that empowers machinery manufacturers and production managers to create and manage AI models for computer vision. Users have the ability to upload their data and develop custom models trained for image classification, object detection, instance segmentation, semantic segmentation, and anomaly detection.</p>
 
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Robovision raises USD 42 million in latest funding for market expansion

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 <p>Viam, an open-source platform for managing smart devices and machines, has secured USD 45 million in a series B funding round. The funding round saw participation from existing investors, Union Square Ventures and Battery Ventures. As a result, the company's total funding to date has climbed to USD 87 million.</p>
 <p>The funds raised are projected to be used for securing new partnerships and driving the development of Viam's software platform.</p>
 <p>The service offered by Viam entails an open-source platform that has been tailored to integrate and manage a variety of devices such as machines, sensors, and IoT devices. Supported applications on the platform span from AI model deployment, predictive maintenance, to fleet management among others. Furthermore, the platform facilitates interoperability and enhanced data analysis across an array of machine types.</p>
 
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All Updates

AssetWatch raised USD 38 million in Series B funding to accelerate innovation

Mimic raises EUR 2.3 million in pre-seed funding

Mavarick raises EUR 1.3 million in venture funding to expand internationally

Deltia raises EUR 4.5 million in seed funding to expand customer base

Rockwell Automation partners with Microsoft to launch new industrial automation solutions

Siemens partners with Schaeffler to develop AI-powered solutions for use in industrial sector

Oden Technologies raises USD 28.5 million in Series B funding

Collaborative Robotics raises USD 100 million in Series B funding for team expansion and product deployment

Robovision raises USD 42 million in latest funding for market expansion

Viam raises USD 45 million in Series B funding for partnership expansion and product development

Smart Factory

AssetWatch raised USD 38 million in Series B funding to accelerate innovation

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