Israeli start-up Inspekto has won US $10 million of investment for its QA inspection equipment.
The funding is for Inspekto’s Plug and Inspect technology implemented in its S70 system, which it plans to launch at the Vision trade fair in Stuttgart in November.
The technology, according to Inspekto, allows manufacturers to set-up, install and detect defects in production in minutes, without the help of external experts or systems integrators. The company is targeting a broad range of vertical manufacturing sectors, including automotive and electronics.
The S70 system is a small, smart, standalone visual QA product, which can be installed up to 1,000 times faster than a traditional solution, and at 1/10th of the cost, Inspekto stated.
Inspekto’s investors include: Grazia Equity, ZFHN, Mahle, Planven, THI Investments and Steinbeis. The company’s valuation post investment is in the region of $60 million, according to Inspekto.
‘Inspekto’s research team aspires to explore and push the boundaries of computer-vision and artificial-intelligence to allow autonomous machine-vision solutions for industrial manufacturers,’ commented Yonatan Hyatt, CTO of Inspekto. ‘The current financing will allow us to further deepen our domain-specific research, alleviating major points of pain in the industrial domain.’
‘As one of the largest automotive suppliers worldwide, we identified early-on the enormous potential impact of [Inspekto’s] Autonomous Machine Vision on production, performance and competitive edge,’ said Johannes Diem, corporate planning, corporate strategy, venture capital and M&A strategy at Mahle International. ‘Inspekto’s work with our plants has been consistently useful and led us to make our first-ever direct investment in a start-up company.’