In a significant move for the additive manufacturing industry, Ai Build, a pioneering software startup, has successfully raised $8.5 million in its Series A funding round. The leading investor in this round is IQ Capital, known for its focus on deep tech and AI in manufacturing. This funding has brought Ai Build’s total investment to an impressive $13.5 million, signifying the growing interest and confidence in the potential of additive manufacturing.
Revolutionizing Additive Manufacturing
Ai Build’s innovative approach aims to tackle longstanding challenges within the additive manufacturing process, such as laborious processes and human error, which can lead to inefficiencies, increased costs, and excessive material waste. The company is committed to simplifying, optimizing, and making the manufacturing process more sustainable and cost-effective.
One key aspect of Ai Build’s strategy is partnering with major players in the manufacturing sector, including industry giants like Boeing. These collaborations are focused on expanding the use of additive manufacturing in large-scale industrial applications, including the integration of AI in manufacturing. Notable benefits for customers include a remarkable 65 percent reduction in failed production attempts and an impressive 90 percent increase in overall production efficiency.
According to Daghan Cam, Co-founder and CEO at Ai Build, automation and the intelligent utilization of data are central to overcoming the current adoption challenges associated with additive manufacturing at an industrial scale. The investment from IQ Capital, coupled with Ai Build’s partnership with Nikon and their deep-tech expertise, positions the company to advance the automation of factories and manufacturing processes.
Additive Manufacturing’s $16 Billion Industry
Additive manufacturing is a rapidly growing segment of the manufacturing industry, with a market value estimated at $16 billion and an annual growth rate exceeding 20 percent. Ai Build intends to utilize this funding to accelerate its product roadmap, enhance automation and AI capabilities in manufacturing, and extend its operations to the United States. This expansion will support the company’s ongoing growth across Europe, solidifying its presence in the additive manufacturing sector.
As Ai Build continues to drive innovation in additive manufacturing, the industry can expect significant advancements in reducing costs, improving efficiency, and ultimately revolutionizing the future of manufacturing processes.
The successful Series A funding signifies the growing interest in additive manufacturing technology as an essential component of future manufacturing practices, including AI in manufacturing. Ai Build’s innovative solutions are not only streamlining processes but also contributing to a more sustainable and cost-effective manufacturing industry, promising a brighter and more efficient future for the sector.