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EthonAI Revolutionizes Manufacturing with Artificial Intelligence

As Switzerland's EthonAI raises $16.5 million, artificial intelligence manufacturing startup investment is on a rip. As factories and manufacturing facilities have become 'smarter' through the use of sensors, robotics, and other linked technologies, this has resulted in the creation of a potential treasure trove of data that can be mined for insights on bottlenecks and other areas that could use improvement.

However, a significant portion of this data that is generated is unstructured and difficult to utilize right off the bat. While big data analytics has been a cornerstone in many industries for many years, such as the financial sector and the transportation industry, it has not yet fully made its way into the sphere of manufacturing. An untapped gold mine of insights has been developed as a result of this, and more recently, a budding industry for systems that are meant to both capture and make sense of a huge diversity of manufacturing data has emerged alongside it.

In order to accelerate the growth of its data analytics platform for manufacturers, Oden Technologies, which was formed in the United Kingdom and is now headquartered in New York, achieved a Series B funding round of $28.5 million last month. The artificial intelligence (AI) application of Daedalus, a German company, was successful in raising $21 million. Robovision, a company based in Belgium, was successful in acquiring $42 million in order to deliver computer vision intelligence to industrial machinery.

It is now the turn of EthonAI, as the Swiss firm revealed on Thursday that it has successfully completed a Series A investment round, which was led by Index Ventures and included participation from General Catalyst, Earlybird, and Founderful. The total amount of funding raised is CHF 15 million, which is equivalent to $16.5 million.