ThinkIQ

ThinkIQ offers a platform for manufacturers to collect, visualize, integrate, and derive insights from data to identify abnormalities in equipment and processes, with a view to continuous operational improvements. The company targets food and beverage, chemical, and pharmaceutical manufacturers.

ThinkIQ offers five main products to match different stages of automation in a factory named: Vision, Visualize, Insight, Transform, and Autonomy. 1) ThinkIQ Vision targets manufacturers that are new to automation by setting up data collection systems using cameras and machine vision to generate data. 2) ThinkIQ Visualize is for the manufacturers that already have a way of gathering data—Visualize helps to integrate existing data sources from different hardware (like cameras and sensors) and software (like ERPs and CRMs), allowing customers to see all data in one screen. 3) ThinkIQ Insight offers advanced visualization, cause and effect analysis, and cross-plant KPIs. It also provides alerts and notifications on issues that require immediate attention to avoid the risk of recalls. 4) ThinkIQ Transform links KPIs to industry standards and contextualizes the stream of data over time to generate insights. 5) ThinkIQ Autonomy is for the final stage of automation that integrates all manufacturing data with supply chain data as well as customers for better traceability.

In May 2023, ThinkIQ launched its Continuous Intelligence Platform to all existing ThinkIQ customers and CESMII (the Smart Manufacturing Institute) Smart Manufacturing Innovation Platform (SMIP) users.

In March 2023, ThinkIQ received a patent for its technology to trace and analyze material flow in manufacturing processes.

In August 2023, ThinkIQ was granted a US patent for its capability to align data for ongoing manufacturing material flow. This technology aids plant engineers, operators, and data scientists in identifying correlations, associations, and underlying factors within the manufacturing process.

Key customers and partnerships

In September 2021, ThinkIQ launched an Alliance Partner Program with the aim of helping customers maximize their returns on investment in technology. Some of ThinkIQ’s notable partners are AWS, Microsoft, CESMII, Accenture, UST, JMP, and Atollogy.

Funding and financials

As of June 2022, ThinkIQ has raised USD 17.6 million, with the latest financing round being a Series A infusion of USD 11.6 million in October 2020. The funds were used to accelerate the growth of its digital manufacturing solutions. In January 2024, the company secured an undisclosed amount in a strategic investment from Mitsubishi, to expand its presence in Japan.