ARTIFICIAL intelligence software solutions provider FireVisor has raised seed funding of"close to S$1 million" in an exercise led by the 500 Startups Durians II Fund and Acequia Capital and joined by SGI along with Entrepreneur First.
FireViso is a Singapore startup which has built a machine learning enabled analytics platform that connects to data sources in the manufacturing line, and automatically performs engineering failure analysis in real-time. It was not specified in the statement issued on Tuesday the quantum of the funds raised, except that it was"close to S$1 million".
FireVisor pioneered the concept of cognitive automation in manufacturing, according to the statement. The founders, Surbhi Krishna Singh and Long Hoang, believe that the industry has been focusing for too long on simple"if-else" based automation which provides little improvement potential for today's factories. As an alternative, the startup provides cognitive solutions that are powered with artificial intelligence.
Launched in 2018, the company has a client base in South-east Asia, India and China, including manufacturers such as REC Solar. It has more than 1.3 million parts in its industrial data set and boasts of accuracy above 98.5 per cent when making decisions with manufacturing data. While this saves 45 per cent engineering time, it also"helps manufacturing companies save costs otherwise lost on product failures and quality issues".
Source: News Formal (newsformal.com)
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