The Israeli disruptor is planning to expand its global reach, thanks to more than $46 million raised in financing – an unprecedented amount invested to build algorithms designed to optimise the baking industry, co-founder and COO Liran Akavia told BakeryandSnacks.
The company recently completed a $24m Series B financial round led by Vetex Ventures with participation from 10D, The Phoenix and Leumi Partners, following a period of outstanding growth of 400% year-on-year.
Last year, the predictive quality and yield solution provider was named as one of the World Economic Forum’s 100 most promising Technology Pioneers, selected for its contribution in the field of Industrial Artificial Intelligence.
Cutting inefficiencies – boosting profitability
After a stint in China to familiarise themselves with all things tech, brothers Liran and Lior Akavia returned home to Israel to design a platform that would help producers identify wastefulness and inefficiencies in their production in order to predict and prevent losses. It uses artificial intelligence (AI) algorithms with deep process manufacturing expertise to understand each individual production process, revealing the hidden causes of production losses and recommending the right actions, saving producers significant costs.
By providing production teams with ready-to-use AI, continuous process mastership becomes a reality. Using Seebo’s Automated Root Cause Analysis, production teams know why process inefficiencies happen; along with how to prevent process inefficiencies using Predictive Recommendations; and when to act with Seebo’s Proactive Alerts.
Digitalisation is happening
“Digitalisation is definitely happening and we are seeing great results,” Akavia told us, noting that Seebo is setting the trend, resulting in more buy-in from various companies.
“The increasingly complex business environment has pushed process manufacturers to explore new ways to eliminate lingering inefficiencies in their production processes.
“These inefficiencies are responsible for significant production losses each year, but in many cases manufacturers didn’t have the tools to find the root causes, as these were hidden deep within the complex manufacturing processes and data. That's why we’ve seen such an increase in demand for Seebo’s Process-Based Artificial Intelligence: this is precisely the problem we solve.”
In our podcast with Akavia, we delve further into how the groundbreaking platform can help producers in the bakery and snacks industries, and how the pandemic actually had a positive impact on pushing the solution to the fore.