Founderful is Switzerland’s leading pre-seed fund.  Founderful is the first, fast, and founder-friendly, backing Switzerland's best tech entrepreneurs to become global market leaders. Founded in 2019 and is located in Zurich, Zurich.

Founderful

We're Acequia Capital, a company and partnership with roots in New Mexico. We're industry partners and systems thinkers who love supporting founding teams in most fields.

Acequia Capital (AceCap)

Founded in 1997, Earlybird invests in all development and growth phases of technology companies. Among the most experienced venture investors in Europe, Earlybird offers its portfolio companies not only financial resources but also strategic support plus access to an international network and capital markets. With EUR 2 billion under management, eight IPOs and 30 trade sales, Earlybird is one of the most established and active venture capital firms in Europe.

Earlybird Venture Capital

La Famiglia is a VC fund backed by entrepreneurs investing in seed stage companies.  They are a family of entrepreneurs, business angels, family businesses and industry leaders who nurture great founders through networks, unfair advantages & capital.

La Famiglia

Index Ventures is a venture capital firm based in London, San Francisco, and Geneva, helping entrepreneurs turn bold ideas into global businesses.  Since 1996, Index has partnered with exceptional entrepreneurs who are using technology to reshape the world. The companies they’ve started include Adyen, Deliveroo, Dropbox, Farfetch, King, Slack, and Supercell.

Index Ventures

General Catalyst is a venture capital firm that provides early-stage and growth equity investments. The company provides ongoing momentum that accelerates ideas, careers, and companies toward standout success.

General Catalyst

EthonAI

EthonAI develops an AI-powered platform that combines quality inspection and root cause analysis in manufacturing. The company's no-code applications can be easily used by factory operators and engineers without writing a single line of code.

<div>Switzerland-based Ethon AI offers a manufacturing data analytics platform that enables manufacturers to identify defects within their assembly processes, optimize operations, and improve yield rates. Its Manufacturing Analytics System (MAS) uses an AI model that can be trained on various sources such as sensors, line stops, and product imagery. The company claims that this solution can improve quality and reduce waste by 20%&ndash;50%.</div>

Using data and automation to achieve 24/7 production.

Smart Factory

Ethon AI

AI manufacturing startup funding is on a tear as Switzerland’s EthonAI raises $16.5M

<div>
 
 Switzerland-based Ethon AI offers a manufacturing data analytics platform that enables manufacturers to identify defects within their assembly processes, optimize operations, and improve yield rates. Its Manufacturing Analytics System (MAS) uses an AI model that can be trained on various sources such as sensors, line stops, and product imagery. The company claims that this solution can improve quality and reduce waste by 20%&ndash;50%.
 
 
 
 
 Key customers and partnerships
 
 
 
 
 EthonAI&rsquo;s notable customers include Siemens, Lindt, and a leading semiconductor producer. The company also specifically caters to the semiconductor manufacturing industry, enabling manufacturers to find defects in silicon wafers, which can impact the yield of usable chips.
 
 
 Funding and financials
 
 
 In May 2024, EthonAI
 <a href="https://sp-edge.com/updates/29910">
 raised ~ USD 16.5 million
 </a>
 in a Series A funding round led by Index to accelerate its growth and add new AI capabilities to its platform. 
 
</div>

<div>
 
 Righthand Robotics provides autonomous robotic picking solutions called RightPick. It utilizes a smart gripper, machine learning, and computer vision to imitate human hand-eye coordination. It develops software and hardware for predictable order fulfillment at scale with flexibility. The company&rsquo;s solutions can be utilized in industries such as apparel, grocery, pharmaceuticals, and electronics. It is based in Massachusetts and has an office in Tokyo, Japan. The company is focused on expanding its European operations, having opened an office in Frankfurt, Germany, in March 2020.
 
 
 In 2019, the company launched the second generation of its piece-picking robotic solution, &ldquo;RightPick2,&rdquo; which includes enhancements to hardware and software. The upgrades included a fifth-generation industrial gripper with the capacity to lift up to 4.4 lbs, new depth-sensing cameras from Intel, and an improved arm from Universal Robots. In 2021, the company launched &ldquo;RightPick 3,&rdquo; with improved picking speeds, capacity to handle a broader item range, and with capabilities for dense packing and damage-free item handling. 
 <a href="https://sp-edge.com/updates/25875">
 In January 2024,
 </a>
 it launched &ldquo;RightPick 4&rdquo; with enhanced AI, sensor suite, and new hardware that allow the system to extend its item-picking range, handle items more efficiently, and enhance system autonomy.
 
 
 In February 2022, the company raised USD 66 million in a Series C round bringing its total funding to USD 100.3 million. The funds were expected to be used to accelerate product and business development, scale global presence by expanding the partner network, expand offices, and acquiring new talent to support overall growth plans. Subsequently, in March 2022, the company announced the launch of its 
 <a href="https://sp-edge.com/updates/9203?industryIds=6">
 partner integrator program,
 </a>
 to complement its robotic piece-picking solutions with warehouse technologies and solution providers to cater to the broad ecommerce order fulfillment market. In May 2022, AutoStore integrator in South Korea Asetec also joined the program.
 
</div>

RightHand Robotics

<div>
 
 SparkCognition is an AI analytics startup offering four deep learning product solutions: Darwin (automated model-building software), DeepArmor (AI-powered cybersecurity), DeepNLP (NLP solution), and SparkPredict (analytics solution utilizing sensor data). These products deliver actionable insights, predict machine issues via historical maintenance data, and provide security from cyber threats. These products can be deployed across multiple industries, such as manufacturing, defense, utilities, oil and gas, and aviation. 
 
 
 SparkCognition&rsquo;s clientele comprises large companies such as Boeing, Hitachi, and British Petroleum. It has also built partnerships with Google for cloud platform services, Hewlett-Packard Enterprise to offer AI predictive maintenance on HPE Edgeline Converged Edge Systems, and OSIsoft to integrate SparkCognition&rsquo;s machine learning technology with OSIsoft&rsquo;s PI system to improve data and process data analytics.
 
 
 The company&rsquo;s most recent funding round was Series D funding worth USD 123 million in January 2022 from March Capital, Doha Venture Capital, B. Riley Venture Capital, AEI Horizon X, Temasek, and several others. The funds were intended to be used to invest in R&amp;D, accelerate sales and marketing, facilitate organic and inorganic growth, and also for the working capital requirements of the company. In March 2022, the company acquired Indian visual AI startup 
 <a href="https://sp-edge.com/updates/9370?industryIds=6">
 Integration Wizards
 </a>
 to expand its intellectual property (IP) portfolio to improve vision capabilities. The company has reported a 2x increase in revenue YoY in 2021.
 
</div>

SparkCognition

Kinta AI provides an automated production planning platform for manufacturing that uses advanced AI algorithms and simulation techniques. Using existing operational data, a SaaS solution is deployed that can be integrated with existing management execution systems (MES), enterprise resource planning (ERP), and Industry 4.0 tools in the factory. The software looks to have cross-functional communication across the factory to eliminate any bottlenecks that delay resolving breakdowns. Kinta AI has partnered with Flex (an electronics manufacturer) and BASF (a chemical company).Kinta AI’s most recent financing was a Series A funding round worth USD 5.5 million in April 2021 led by Lachy Groom’s LGF and Shine Capital. The funds will be utilized to scale operations in existing general industrial client factories and implement the Kinta AI platform in new client factories.

Kinta AI

<div>
 
 Sight Machine provides a digital manufacturing platform enabled by AI. It creates a digital twin of both assets and processes to help manufacturers improve processes, quality, and productivity. It can also gather data from machines of various manufacturers supplying actionable insights for predictive maintenance, quality improvement, capacity utilization, among other benefits. In October 2022, the company released 
 <a href="https://sp-edge.com/updates/13696?industryIds=6">
 Sight Machine Blueprint
 </a>
 to offer manufacturers with advanced data analytics solutions.
 
 
 Sight Machine has established partnerships with large global companies such as Microsoft, Google, and Amazon Web Services (AWS) for their cloud platforms and Fujitsu (system integrator) to help with wide deployments. Sight Machine, which caters to at least 15 verticals, such as food and beverage, electronics, and automotive, is on the move to expand into more verticals. It has global clients of Fortune 500-caliber, including Nissan, Heineken, Westrock Co., and Asian Paints. Sight Machine&rsquo;s most recent funding round was Series C funding worth USD 29.4 million in April 2019, led by LS Group. The funds were to be used to expedite the company&rsquo;s growth.
 
 
 Funding and financials
 
 
 In December 2023, 
 <a href="https://sp-edge.com/updates/25200">
 Sight Machine received a low double-digit million euro investmen
 </a>
 t from TeamViewer to improve industrial digitalization and enhance manufacturing efficiency.
 
 
 
</div>

Sight Machine

Overview uses smart cameras and AI to monitor manufacturing equipment and robots and identify defects in real time before significant damage or downtime is incurred. The technology has a repository of machine data so that there is a traceable visual record of all units. With AI, the cause of production issues and quality concerns can be identified either on-site or remotely. The company claims over time, the deep learning computer vision algorithms allow for any sudden substantial increases in production and improved yields. Funding and financialsIn February 2022, the company raised USD 10 million in series A funding to be used to expand operations and business reach.

Overview

Companies that provide robotic fleet management software, robotic automation software, and inspection software.

Companies that provide an industrial IoT platform across factories as the primary offering.

Companies that provide cobots, sorting/ picking robotics, modular production robotics, and microfactories.

Companies that focus on data analytics for operations streamlining and process optimization, and may offer predictive maintenance.

Companies that provide autonomous mobile robots (AMR) or self-driving vehicles (SDV) used in manufacturing/ factory operations.

Companies that monitor the manufacturing equipment and assembly lines.

Companies that provide predictive maintenance as a primary offering. 

Creates digital twins of assets and processes to help manufacturers improve processes, quality, and productivity

Connected devices, sensors, IoT, and analytics are used to optimize factory operations

Uses advanced robotics, AMRs, and related software to improve the efficiency of factory operations

Uses connected devices and sensors to gather data—IIoT, predictive analysis, and equipment inspection

Uses AI/ML to analyze data for predictive maintenance and AI-based vision systems for line inspections

5G standard allows for faster reaction times and supports high connection densities

Uses edge computing for data processing at the edge

Some companies in the predictive maintenance space uses generative AI to generate possible alternative scenarios

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 
 EthonAI, a Swiss-based firm providing a manufacturing data analytics platform, has successfully raised CHF 15 million (approximately USD 16.5 million) in a Series A funding round. This round was led by venture capital firm Index Ventures, with the participation of General Catalyst, Earlybird, and Founderful.
 The funds will be used to accelerate the firm's expansion efforts and integrate new AI functionalities into their existing platform. In conjunction with the funding announcement, EthonAI also launched their Manufacturing Analytics System (MAS) – a flagship product powered by AI to provide analytics solutions.
 EthonAI's platform aids manufacturers by identifying defects within their assembly processes, optimising operations, and enhancing yield rates. The company's MAS employs an AI model that can be trained utilising various sources including sensors, line stops, and product imagery. With the implementation of this solution, the company asserts that manufacturers can improve quality and reduce waste by 20%-50%.
 
</div> Analyst QuickTake: 
 EthonAI offers a similar solution to <a href="https: 
//sp-edge.com/updates/28458"> Oden Technologies, </a> <a href="https: 
//sp-edge.com/updates/29263"> Maverick, </a> <a href="https: 
//sp-edge.com/updates/28900"> Deltia, </a> and <a href="https: 
//sp-edge.com/updates/27996"> RoboVision </a> , which have incidentally raised USD 28.5 million, USD ~1.4 million, USD ~4.8 million, and USD 42 million during the past few months. With competition in space heating up, EthonAI differentiates itself by focusing on the semiconductor industry to improve yield rates.

Ethon AI

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