CPE Media News (11/7/2019) – Quartic.ai, a full-stack industrial AI and IIoT software provider, has completed a $5 million Series A round of financing led by WRVI Capital with additional funding through private investors.
Oakville, Ontario based Quartic.ai is a technology company with offices in San Jose, California and development centre in Bengaluru, India. Its flagship product, the Quartic Platform, accelerates the adoption of Industry 4.0 by enabling process manufacturing users and engineers to develop and deploy their own AI and IIoT-based solutions using only their subject matter expertise, without the need for a formal data science or coding background.
Quartic.ai intends to use the funding to accelerate deployment of its Industry 4.0 technology and serve a larger customer base.
photo credit: Quartic.ai
Quartic.ai Raises $5 Million in Series A Funding to Accelerate Deployment of Industry 4.0 AI Platform
Multi-Million-Dollar Investment Will Accelerate Technology Deployment of AI-Powered Smart Manufacturing Platform
SAN JOSE, CALIF. (PRWEB) NOVEMBER 06, 2019
Quartic.ai, a full-stack industrial AI and IIoT software provider, has completed a $5 million Series A round of financing led by WRVI Capital, with additional funding through private investors. The investment will allow Quartic.ai to accelerate deployment of its Industry 4.0 technology and serve a larger customer base.
“We are excited to have access to the guidance of technology veteran partners at WRVI Capital, who have built successful technology companies and understand the transformational impact of Industry 4.0 platforms like Quartic.ai on manufacturing,” said Rajiv Anand, CEO of Quartic.ai.
The Quartic Platform has been deployed to modernize legacy automation to Industry 4.0 architecture in process manufacturing applications such as pharmaceuticals, mineral processing, and petrochemicals. The platform consists of two main components: the illuminator™, an industrial OT data pipeline, and eXponence™, an automated machine learning, contextual analytics and complex event processing engine. The hardware-agnostic platform addresses the IT/OT convergence challenge with a software-defined architecture, allowing distribution of intelligence at the edge, fog and the cloud.
“Verticalization is key to making AI beneficial for business, but verticalization of AI for manufacturing at scale requires a smart combination of deep subject matter expertise with technology,” explained Dr. Steve Fu, Partner at WRVI Capital. “Quartic.ai is uniquely positioned to tackle this challenge with a team made up of manufacturing veterans leveraging great AI talent in Canada and distributed computing experts in India.”
“Our mission is to put AI in the hands of industrial subject matter experts,” explained Anand. “When AI applications are built by those who best understand the manufacturing process and equipment, the trust and adoption of AI is much higher and sustainable results can be achieved. Our platform approach has been very well received by the industry, and its success with our Fortune 500 customers has further validated our approach.”
Quartic.ai is a technology company based in Toronto, Ontario, and San Jose, California with a development centre in Bengaluru, India. Its flagship product, the Quartic Platform, accelerates the adoption of Industry 4.0 by enabling process manufacturing users and engineers to develop and deploy their own AI and IIoT-based solutions using only their subject matter expertise, without the need for a formal data science or coding background. The Quartic Platform won the 2019 Pharma Innovation Award for Pharma 4.0 and Quartic was recognized in the Microsoft Great Canadian Innovators 2018 Yearbook. For more information, contact Quartic.ai at 1-866-QUARTIC or visit http://www.Quartic.ai.
WRVI Capital is a leading venture capital firm that invests in exceptional entrepreneurs and disruptive technologies that will help shape the future. Through our unique mix of intellectual capital, expertise, and network of relationships, we empower founding teams and drive continuous and measurable progress for our portfolio companies. WRVI Capital is headquartered in California. For further information about WRVI Capital, please visit wrvi.vc.
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