Vanti Analytics has raised a $4.5 million seed funding round led by True Ventures, a Silicon Valley venture capital firm, and Israel’s More VC.
The round includes participation from Israel’s i3 Equity Partners, who invested in the pre-seed round, alongside Ariel Maislos.
Vanti has raised $6 million in total since founded in 2019 by CEO Smadar David and CTO Niro Osiroff.
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Vanti Analytics is developing a platform that helps manufacturers, without data science backgrounds, increase the production of electronic products. The solution does not require any changes to existing lines and can reduce time to value from months to days.
Vanti’s founder’s previous roles spanning the automotive, semiconductors, and communication industries, who have personally faced the challenges of the manufacturing field and development solutions.
Vanti’s SaaS software platform autonomously leverages machine learning to dramatically reduce ramp-up time, errors and test time for electronics manufacturers. Using the platform does not require any data science knowledge. Easy-to-understand insights allow manufacturers to optimize quickly and see an increase in productivity within just hours of deployment.
“We liked how fast it was integrated and demonstrated value leveraging our operations data with the highest quality, volume and price,” said Omer Keilaf, CEO and co-founder of Innoviz Technologies, a supplier of LiDAR for the automotive industry.
Unlocking the multi-billion dollar potential impact of AI has been a long-term goal for the manufacturing industry, however, adoption is still low. According to a study conducted by Gartner, a heaping 85 percent of machine learning projects will fail due in part to a lack of data science skills and erroneous algorithms.
“Smadar and Niro bring a unique perspective to the improvement of manufacturer analytics given their deep expertise in machine learning as it applies to semiconductor and electronics manufacturing,” said Rohit Sharma.
As part of the raise, Vanti has welcomed Rohit Sharma, partner at True Ventures, to the company’s board, along with Meir Ukeles, the venture partner at More VC.