Fero Labs, a provider of data analytics solutions for manufacturers, has raised USD 15 million in funding led by Climate Investment (CI; formerly OGCI Climate Investments), with participation from investors Blackhorn Ventures, Innovation Endeavors, and DI Technology. The round brings the company's total funding to USD 30 million.
The company plans to utilize the funds to improve its white-box AI capabilities and implement new features aimed at facilitating real-time emissions reduction within the steel, cement, and chemical manufacturing sectors.
Fero Labs offers software that allows factory workers—even those without a background in data science—to analyze data and find solutions to problems. This helps factories run efficiently and in a way that is better for the environment.
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