TEL AVIV, Israel, March 4, 2021 / PRNewswire / – Today, Seebo, the quality and return predictive solution, announced its extended Series B funding round, for a total of $ 24 million. The funding will be used to further expand its global reach and continue to improve its process-based artificial intelligence solution. The tour is led by Vertex Ventures with the participation of 10D, The Phoenix and Leumi Partners.

Large and mid-sized manufacturers experience tens to hundreds of millions of dollars in loss of quality, performance, energy, emissions and waste every year on average. Seebo’s process-based artificial intelligence solution enables manufacturers to identify process inefficiencies in their production processes in order to predict and avoid production losses. Seebo has successfully infused artificial intelligence algorithms with deep process manufacturing expertise – giving its solution the unique ability to understand each individual production process. This allows its customers to save significant funds each year, revealing the hidden causes of their production losses. Seebos customers include leading manufacturers such as Nestlé, PepsiCo, General Mills, Barilla, Mondelez, Allnex, ICL and many more.

This latest cycle comes during a period of exponential growth (400% year-on-year) for Seebo as many manufacturers face an increasingly difficult and competitive market in this year of COVID-19. Among these challenges is the more urgent need to increase efficiency, notably by reducing production losses; and in some cases, to respond to unprecedented peaks in demand due to changing consumer behavior. The Seebo solution enabled these manufacturers to achieve these goals in a highly scalable manner – without costly investments in new production lines and facilities.

“The increasingly complex business environment has prompted process manufacturers to explore new ways to eliminate persistent inefficiencies in their production processes,” said Lior Akavia, CEO and co-founder of Seebo. “These inefficiencies are responsible for large production losses every year, but in many cases manufacturers lacked the tools to find the root causes because they were hidden deep in manufacturing processes and complex data. This is why we have seen such an increase in demand for artificial intelligence based on Seebo’s processes: this is precisely the problem we are solving. Seebo grew in 2020 with many new customers, ”Akavia continued. “But our growth with our existing customers is even greater, who, by using Seebo, have identified clear reductions in inefficiencies and achieved significant financial benefits. great pride for Seebo. “

“We are pleased to report that we have tripled our investment 9 months after our initial investment in Seebo, while observing closely how Seebo is saving millions of dollars in manufacturing – and how they are in turn happy to expand the solution to extra lines, “says Yanai Oron, general partner at Vertex Ventures. “Seebo is the only supplier to offer a product solution based on artificial intelligence across the entire product range”

About Seebo:

Seebo is the Predictive Quality and Yield solution, recently selected as Technology pioneers by the World Economic Forum. Manufacturers use Seebo to predict and prevent loss of quality, yield and waste. Seebo’s process-based artificial intelligence is designed to solve complex process inefficiencies – by revealing hidden causes and recommending the right actions. By providing production teams with ready-to-use Artificial Intelligence, continuous process control becomes a reality. With Seebo, production teams know Why process inefficiencies occur, using automated root cause analysis; How? ‘Or’ What to avoid process inefficiencies, using predictive recommendations; and when to act, using proactive alerts.

Seebo’s customers include leading manufacturers in several industries, such as Barilla, Nestlé, Mondelez, PepsiCo, General Mills, Allnex and ICL.

Seebo is supported by Vertex Ventures, 10D, The Phoenix, Leumi Partners, Viola Ventures and TPY Capital.

For more information, please visit www.seebo.com

Contact details:
Mira Marcus
[email protected]

SOURCE Seebo

Related links

http://www.seebo.com