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EthonAI raises CHF 15 million in Series A funding; launches flagship Manufacturing Analytics System
Smart Factory
May 30, 2024
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Smart Factory

Smart Factory

May 30, 2024

EthonAI raises CHF 15 million in Series A funding; launches flagship Manufacturing Analytics System

Product updates
Funding

  • EthonAI, a manufacturing data analytics platform provider, has raised CHF 15 million (~ USD 16.5 million) in a Series A funding round led by Index Ventures. General Catalyst, Earlybird, and Founderful also participated.

  • The company plans to use the funding to accelerate its growth and add new AI capabilities to its platform. Along with the funding, the company also launched the Manufacturing Analytics System (MAS), its flagship AI-powered analytics solution.

  • Based in Switzerland, 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 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%–50%.

  • Analyst QuickTake: EthonAI offers a similar solution to Oden Technologies, Maverick, Deltia, and RoboVision , 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.

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