DarwinAI, an innovative Industry 4.0 company that is transforming manufacturing by instilling trust in Artificial Intelligence (AI), announced a $6M USD investment round led by BDC Capital’s Deep Tech Venture Fund with participation from new and existing investors. The investment extends the capital raised through previous investment rounds led by Honeywell Ventures, Obvious Ventures and Inovia Capital.
Located in Ontario, Canada, with organic connections to the University of Waterloo, the company is leveraging its foundational AI to transform the $75B global PCB industry.
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DarwinAI’s initial focus is to disrupt the electronics manufacturing industry by improving the efficiency of Printed Circuit Board Assembly (PCBA) production through their ground-breaking technology. PCBs, which are ubiquitous and embedded in everything from microwaves to cameras, are notoriously difficult to visually inspect due different board sizes and complicated geometries. What’s more, qualified workers are hard to find and retain.
“DarwinAI’s ongoing mission and differentiated approach to disrupt manufacturing using AI speaks to the company’s ambition and technical prowess. We are proud that this great Canadian company, led by top tier AI technical and research team, has commercialized its technology in such a formidable manner, and are thrilled to lead this funding round” said Thomas Park, Lead Partner, Deep Tech Venture Fund at BDC Capital.
DarwinAI differentiates itself in numerous areas. First, there is the company’s foundational IP – the by-product of years of scholarship from its academic team – that enables robust, more accurate, and trustworthy performance as well as quicker time-to-market. Second, is the development of proprietary optics and custom hardware, which are key elements in bringing a full-fledged offering to the Enterprise. Third, is the company’s private and proprietary PCB dataset – one of the largest in the world – which DarwinAI has leveraged to accelerate delivery for its many clients.
As Sheldon Fernandez, DarwinAI’s CEO explains: “The global shortage of semiconductors and PCBs, exemplified by the recent CHIPS act, has given rise to circumstances that favor disruption. While we were not the first to take note of this fact, it occurred to us that no one was building a product that combined Artificial Intelligence, hardware, and software into a system that was easy to integrate into the electronics manufacturing process.
SOURCE: Businesswire