Seebo raises $9mn to help OEMs prevent production losses

Predictive quality and yield solution for manufacturers, Seebo completed a US$9 million (€7 million) funding round.

Due to inefficiencies in their production processes, large manufacturers suffer tens to hundreds of millions of dollars in quality, yield and waste losses each year. Seebo will use the funding to further expand its global reach and continue enhancing its process-based artificial intelligence (AI) solution.

Seebo’s solution reportedly enables manufacturers to predict and prevent production losses and master complex production processes, saving customers significant money each year. The funding round has been led by Ofek Ventures, with the participation of Vertex Ventures, and with existing investors Viola Ventures and TPY Capital. Since its founding, Seebo has raised $31 million (€27 million).

Seebo’s funding comes amid growing demand for the company’s solution, as original equipment manufacturers (OEMs) seek new ways to prevent losses and optimise their processes. Current Seebo customers include industry leaders like Nestle, Barilla, Mondelez, Allnex and Volkswagen Group.

“We’re really excited to be investing in Seebo,” says Ofek Ventures partner, Itay Rand. “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 optimisation capabilities, and there is a clear recognition that Industrial Artificial Intelligence and a data-driven approach is fundamental to achieving that goal.”

“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” comments Seebo CEO and co-founder Lior Akavia.

Additionally, the Coronavirus crisis has rapidly changed the face of manufacturing, as companies have had to adapt to shifting customer demand, forcing supply chain disruptions, new regulations for employees and a move towards optimisation of remote processes.

“The Coronavirus pandemic has spurred a search for more efficient, effective ways to identify and prevent process inefficiencies overall which lies at the heart of what Seebo does,” says Akavia.

“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.”

Comment on this article below or via Twitter: @IoTNow_OR @jcIoTnow


9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, iot home automation is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more

Schneider Electric launches grids of the future lifecycle management at Enlit Europe event

Posted on: December 3, 2021

Rueil-Malmaison, France. 2 December 2021 – Schneider Electric, the provider of digital transformation of energy management and automation and The World’s 2021 Most Sustainable Corporation, believes that electricity is the only energy that offers the fastest vector for decarbonisation through a combination of renewables and digital software-led solutions.

Read more

University (data) challenges disrupt student experience in almost half of UK institutions

Posted on: December 3, 2021

Eton, UK, 2nd December, 2021 – Over half (59%) of higher education institutions said the secure sharing of data has been their biggest IT challenge over the last 18 months as they dealt with the ongoing impact of the pandemic.

Read more