Industry 4.0 startup Kinta AI secures $5.5m in Series A funding round
Kinta AI, a California-based Industry 4.0 startup, has secured $5.5 million in a Series A funding round led by Lachy Groom’s LGF and Mo Koyfman’s Shine Capital.
Founded in 2017, the company deploys artificial intelligence (AI) enabled software and optimized workflow tools to streamline complex factory floor planning and operations.
Kinta AI will use the funding to scale out factory implementations at existing top general industrial clients apart from deploying at a series of new manufacturing companies.
Commenting on Kinta AI Series A funding round, Mo Koyfman said: “Kinta CEO Steven Glinert is one of the brightest people I’ve ever met. He’s a person who’s interested in solving other people’s problems.”
Kinta AI claims to be is the first AI-powered platform for executing planning factory operations.
Its software takes in the data and utilizes algorithms to produce actionable plans that enable factory managers control and coordinate factory resources in real-time.
Kinta AI further claims that its solution has already shown dramatic reductions in production time and inventory while increasing utilization of assets and on-time delivery at the factories where it is implemented.
Steven Glinert comments on Kinta AI Series A funding round
Steven Glinert, commenting on Kinta AI Series A funding round, said: “Kinta tackles some of the most complex and intricate tasks in operations planning so that today’s manufactures can optimize the use of their valuable production resources.
“More than ever, COVID-19 has shown us that global supply chains are fragile and manufacturing operations need to be agile and flexible to maintain efficiency. Our software promises manufactures this resiliency and unlocks the full potential of their production resources.”