EthonAI raises 15 million francs

Zurich – The start-up EthonAI, which specializes in digital quality management, has closed a Series A financing round of 15 million Swiss francs. The start-up is also presenting its new Manufacturing Analytics System (MAS) based on artificial intelligence.

The start-up EthonAI has secured 15 million Swiss francs in a Series A financing round. The spin-off from the Swiss Federal Institute of Technology in Zurich(ETH) has developed a platform for digital quality management based on artificial intelligence (AI). According to a press release, the financing round was led by Index Ventures, with the participation of existing investors General Catalyst, Earlybird and Founderful.

EthonAI's newly launched Manufacturing Analytics System uses AI to give engineers and managers a "sixth sense" of what is happening in the factory. According to the company, it helps them to recognize errors, identify inefficient processes, improve quality and reduce waste by up to 50 percent.

"Manufacturing is at a critical juncture, and companies that fail to adapt with AI risk falling behind. Factories are producing mountains of data, and AI is the key to unlocking insights to drive operational excellence," CEO Julia Senoner is quoted as saying. "We are in a phase of global rethinking in manufacturing, with digitalization, data and AI at its core. This is exactly where EthonAI is positioned."

The Manufacturing Analytics System is a multi-layered platform and relies on all existing data sources in the factory, such as sensor measurements, order information and computer vision images. The MAS creates a real-time picture of what is happening, analyzes the causes of problems and predicts what can be done to solve them, according to EthonAI. ce/gba

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