The funding will be used to further develop Seebo’s pioneering Process-Based Artificial Intelligence (AI) technology, currently used by manufacturers like PepsiCo, Nestle and Mondelez.
Due to inefficiencies in production processes, large manufacturers often lose millions of dollars in quality, yield and waste losses each year due to inefficiencies in production processes.
Additionally, the coronavirus crisis has rapidly changed the face of manufacturing as companies adapt to shifting customer demand, forcing supply chain disruptions, new regulations for employees and a move towards optimisation of remote processes.
“Manufacturers today realise that in order to prevent losses and continuously master complex production processes, they need a technological solution that truly understands the unique complexity of their production lines, and is both easy for production teams to use and scalable across various manufacturing lines,” said Lior Akavia, Seebo CEO and cofounder.
“The coronavirus pandemic has also spurred a search for more efficient, effective ways to identify and prevent process inefficiencies overall – which lies at the heart of what Seebo does.
“Data-driven decision-making is critical in our new reality, as manufacturers must adapt quickly and implement changes effectively. Those manufacturers who meet this challenge today will gain a competitive edge in tomorrow’s marketplace.”
Seebo Process-Based Artificial Intelligence is designed to solve complicated process inefficiencies, revealing the hidden causes and recommending the right actions.
According to the company, by providing production teams with ready-to-use AI, continuous process mastership becomes a reality. With Seebo, production teams will know why process inefficiencies happen using Automated Root Cause Analysis; how to prevent process inefficiencies using Predictive Recommendations; and when to act using Proactive Alerts.
“We’re really excited to be investing in Seebo,” said Itay Rand, Ofek Ventures partner.
“Over the past few years, Seebo has cemented itself as a leader in the fields of Predictive Quality and Industrial Artificial Intelligence, with a growing roster of tier-1 manufacturers.
“Manufacturers today understand that in order to compete successfully, they must adopt effective process optimization capabilities, and there is a clear recognition that Industrial Artificial Intelligence and a data-driven approach is fundamental to achieving that goal.”
Since its founding, Seebo has raised $31m.