Profet AI, a Taiwanese startup that makes auto machine learning software for manufacturers, announced today it has raised $5.6 million in Series A funding. The round was led by Darwin Ventures. Returning investors Hive Ventures, AUO and SVTI also participated, along with Harbinger VC and Jensen Capital Management.
Founded in 2018, Profet AI’s customers include Foxconn, Advantech and ASE Group, and it says it doubled its revenue in 2022. The funding will be used on Profet AI’s expansion in Japan, Southeast Asia and China, with plans to sign joint ventures with overseas partners.
Profet AI’s software lets users build prediction models and industrial AI apps for production and digitalization, even if they only have basic knowledge of machine learning.
The company’s flagship products are its AutoML Virtual Data Scientist Platform and Ready To Go Applications. They are intended for use by clients in the semiconductor, electronics, chemicals and textile manufacturing industries.
The AutoML Virtual Data Scientist Platform is a no-code development program that lets users design enterprise AI applications, while Ready To Go Applications are industry-specific AI apps that are ready to be used in public cloud or on-premise environments.
In a statement, Darwin Venture Management partner Kay Lin said, “The AutoML Virtual Data Scientist Platform of Profet AI is based on empowering, which quickly enables digital transformation and intelligent evolution in the manufacturing industry. Darwin is very optimistic about Profet AI’s strengths and will leverage our solid background in the semiconductor and electronics industry to actively assist Profet AI’s market development.”
Profet AI helps manufacturers build prediction models and industrial AI software by Catherine Shu originally published on TechCrunch