Xaba raises $6M from Hitachi Ventures to build synthetic brains for industrial robots
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Summary
Xaba has successfully raised $6m in a seed funding round led by Hitachi Ventures, to apply its AI to manufacturing processes, also known as industrial AI.
The company seeks to remake industrial processes with minimal human involvement through its flagship product, xCognition, which gives industrial robots and collaborative robots (cobots) the ability to autonomously generate programs for tasks such as welding or additive manufacturing.
CEO Massimiliano Moruzzi believes the $9tr manufacturing market is inefficient, costly, and relies heavily on outdated practices, with 80% of automation costs stemming from manually developing logic for industrial controllers. Xaba estimates that it can achieve a 10x reduction in costs.
The startup is focused ondeploying AI-powered robotics and cognitive industrial control systems with the new funds, and aims to take on a $9tr opportunity in the process.