Instrumental Inc. Secures $50M in Funding
Instrumental Inc. has announced it closed $50 million in Series C financing, led by BAM Elevate, with Canaan, Root Ventures and Eclipse Ventures as return investors. Instrumental Inc. plans to use the funds to expand research and development for new products and hire in engineering and go-to-market teams.
Instrumental Inc. builds manufacturing data infrastructure for electronics brands, helping to solve crucial issues in their manufacturing operations. The company’s cloud platform serves as the AI-enabled backbone for companies optimizing their manufacturing processes, through automated technology that detects defects, identifies root causes and delivers actionable insights. This data infrastructure enables companies to reduce waste and increase product margins as they bring products to market.
“When I was working as an engineer, I was surprised by the amount of waste and inefficiencies that electronics brands are accustomed to as the cost of doing business”, said Anna-Katrina Shedletsky, Instrumental Inc. CEO and founder. “We believe in a different future — where software leverages data about every individual unit built to make rapid changes to process and design, eliminating waste. We are proud to be part of our customers’ core manufacturing infrastructure and to be approaching this challenge with deep empathy for the engineers who build and improve the products we all enjoy every day”.
In an effort to address these challenges for the broader electronics community and drive continuous improvements across the entire manufacturing industry, Instrumental Inc. is hosting its third Build Better Manufacturing Optimization Summit on March 3, 2022, in partnership with the Association of Manufacturing Technology (AMT). Experts from Instrumental Inc., Google Cloud, Tesla, SAP, Nvidia, and more will offer tactical advice on leveraging data to optimize manufacturing processes.
“The way Instrumental combines visual and product data for companies optimizing their manufacturing processes completely changes the way products are designed and produced”, said Jamie McGurk, the General Partner who led BAM Elevate’s investment, who has joined Instrumental’s Board of Directors. “Engineers that once had to email Excel files around the world and waste valuable time extracting information from siloed data centres can now use Instrumental to deliver the insights they need to find and fix issues faster than ever. We’re thrilled to fuel Instrumental’s continued growth”.
You can find more information about Instrumental Inc. and its $50 million financing round on its website.
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