UnitX Raises $5M from SE Ventures to Elevate Manufacturing Quality with AI-powered Defect Detection
Thursday, October 5, 2023
SAN JOSE, Calif., Sept. 27, 2023 /PRNewswire/ -- UnitX, a robotics company building next-generation AI vision systems at the forefront of quality and yield management in manufacturing, is proud to announce a $5 million investment from SE Ventures, a Silicon Valley-based venture fund backed by global energy and automation giant Schneider Electric.
UnitX, through its software-defined vision system ("OptiX") and its edge AI compute platform ("CorteX"), delivers unparalleled inspection and defect detection capabilities to manufacturing customers. This technology can drive step-change improvements in the detection of visual defects that often escape error-prone and overworked human inspectors or legacy machine vision systems. By partnering with UnitX, customers can significantly reduce scrap, improve yield, and maintain the highest quality standards.
"We have looked at every major startup in this category in the past two years and it is clear to us that UnitX has cracked the right product and go-to-market approach to quickly deliver significant ROI to large enterprise customers," said Varun Jain, General Partner at SE Ventures. "Moreover, they are focused on large yet underserved market segments like electric vehicle and lithium-ion battery manufacturing that are going to see a significant capacity expansion in the near future."
"UnitX is one of the fastest growing players in our category and our systems are running on the production lines of the world's top manufacturers in Li battery and automotive. That said, the deep domain knowledge of the SE Ventures team coupled with the complementary offerings with Schneider Electric's market leading automation and software solutions will enable UnitX to deliver value to manufacturers on a larger scale," said Keven Wang, CEO & Co-Founder of UnitX.
The investment from SE Ventures will also help UnitX to expand its geographic reach and accelerate its mission to radically elevate quality, traceability, and profitability of manufacturing operations.
About SE Ventures:
SE Ventures is a EUR1B global venture capital fund backed by Schneider Electric. SE Ventures invests in big ideas and bold entrepreneurs who can benefit from Schneider's deep domain expertise and global customer reach. Beyond providing capital, SE Ventures acts as a commercial accelerant for category-defining companies such as Augury, Claroty, AiDash, Aquant, AutoGrid, Poka, Scandit, Kojo, Enable and many other startups spanning climate tech, energy management, mobility, cybersecurity and industrial automation. To learn more, visit http://www.seventures.com
About UnitX:
UnitX is a robotics company pioneering next-gen AI vision systems that revolutionizes manufacturing by automating visual defect detection. Deployed across key manufacturing verticals, including lithium-ion batteries, electric vehicles, and automotive, UnitX enhances yields, reduces scrap, and elevates product quality. To learn more, visit https://www.unitxlabs.com
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SOURCE UnitX
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