<div>
  <ul>
    <li>
      <p>
        SparkCognition, a provider of AI analytics solutions, has raised USD 123 million from new and existing investors including March Capital, Doha Venture Capital, B. Riley Venture Capital, AEI Horizon X, and Temasek, among others. This round brings the total funding to USD 300 million, valuing the company at over USD 1.4 billion (twice the valuation recorded in October 2019 with the Series C funding).
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        The funds will 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.
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        SparkCognition has reported a 90% YoY growth in 2021, with 5x more bookings and a 75% increase in the IP portfolio over the same period.
      </p>
    </li>
  </ul>
  <p>
    &lt;ul&gt;&lt;li&gt;
    <b>Analyst QuickTake: </b>
    SparkCognition now joins the handful of companies in the smart factory space to have achieved unicorn status, including 
    <a href="https://sp-edge.com/companies/149774">
      Augury
    </a>
    , 
    <a href="https://sp-edge.com/companies/283968">
      Uptake Technologies
    </a>
    , and 
    <a href="https://sp-edge.com/companies/367758">
      Locus Robotics
    </a>
    . Notably, two of the unicorns (Uptake and Augury) can also be considered the closest peers to SparkCognition, while all three companies offer predictive maintenance solutions for factory operations.&lt;/ul&gt;
  </p>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.prnewswire.com/news-releases/sparkcognition-announces-123-million-series-d-funding-and-a-unicorn-valuation-to-accelerate-ai-adoption-across-industries-301467137.html">
      Company press release
    </a>
  </p>
  <p>
    <a href="https://www.finsmes.com/2022/01/sparkcognition-raises-123m-in-series-d-funding.html">
      Finsmes
    </a>
  </p>
</div>


Smart Factory

SparkCognition raises USD 123 million in Series D; achieves unicorn status

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>
 
 <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>
 
</div>

Rockwell Automation partners with Microsoft to launch new industrial automation solutions

<div>
 
 <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>
 
</div>

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

<div>
 
 <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>
 
</div>

Oden Technologies raises USD 28.5 million in Series B funding

<div>
 
 <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>
 
</div>

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

<div>
 
 <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>
 
</div>

Robovision raises USD 42 million in latest funding for market expansion

<div>
 
 <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>
 
</div>

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

ANALYST_QUICK_TAKE

<div>
 <p>Locus Robotics, a firm that makes autonomous mobile robots for warehouses, has unveiled "LocusHub." This new cloud-based business intelligence service uses AI and Machine Learning for advanced analytics aimed at improving warehouse processes.</p>
 <p>LocusHub provides several key features such as descriptive analytics, customizable fleet management, AI-driven actionable insights, predictive modeling, advanced data filtering, and permission-based access. This service is based on the company's proprietary platform, LocusOne.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> The introduction of LocusHub is set to enhance the efficiency of Locus Robotics' suite of products. It strategically positions the company for heightened competitiveness, particularly against peers such as <a href="https:<br>
//sp-edge.com/companies/465313"> Geek+, </a> which similarly integrates a data platform with its robotics solutions for comparable applications.</p>

Locus Robotics launches ‘LocusHub,’ a business intelligence engine

<div>
 
 <p>Covariant has launched RFM-1, a robotics foundation model allowing users to create versatile AI models that operate under realistic scenarios.</p>
 <p>The system is trained on diverse sources, including internet content like text, images, videos, physical robot activities, and numerical sensor data.&nbsp;</p>
 <p>RFM-1's potential applications include language-directed robot programming, simulation production, and object recognition. Users can input text commands for tasks like identifying and collecting an item, which the system then executes.</p>
 
</div>

Covariant Introduces RFM-1, a robotics foundation model

<div>
 
 <p>RIOS, a company that provides solutions in robotic automation, has successfully raised 13 million dollars in a Series B funding round. The round was jointly led by Yamaha Motor Corporation and IAG Capital Partners, with additional participation from Main Sequence. This has increased the company's total funding to an impressive 51.5 million dollars.</p>
 <p>The funds from this round will be dedicated towards supporting the expansion of RIOS into new sectors such as wood products, beverage distribution, and the packaging of food products. Moreover, the company has plans to introduce its AI and vision-enabled robotics solutions, with an initial focus on sectors dealing with lumber and plywood handling.</p>
 
</div>

RIOS raises USD 13 million in Series B funding for product expansion

<div>
 
 <p>Assemblio, a German-based assembly plan automation platform, recently raised EUR 2.1 million (USD 2.3 million) in seed funding. The investment round saw participation from LEA Partners, Mätch VC, Cross Atlantic Angels, Silver Scale, and Integra.</p>
 <p>These funds will be directed towards further expansion, and product development initiatives.</p>
 <p>Assemblio's platform utilizes AI technology, allowing users to create digital assembly plans. It is capable of processing CAD files of products, disassembling them digitally, and subsequently generating an assembly plan. Such plans can be presented in formats such as PDFs, video tutorials, or interactive 3D step-by-step instructions.</p>
 
</div>

All Updates