EthonAI secures CHF 15 million in Series A Funding to fuel manufacturing analytics platform

04.06.2024 09:20, Rita Longobardi

AI-powered manufacturing analytics leader EthonAI has closed a CHF 15 million Series A funding round to develop its platform further and expand its enterprise offerings.

Manufacturing is behind in using data analytics, but EthonAI's AI-powered Manufacturing Analytics System (MAS) is changing that. MAS gives factory managers a real-time view of operations to improve quality, reduce waste, and revolutionize manufacturing.

The company has closed a CHF 15 million Series A funding round led by Index Ventures, with existing investors General Catalyst, Earlybird, and Founderful participating, to develop its platform further and expand its enterprise offerings.

EthonAI was co-founded by Julian Senoner (CEO) and Bernhard Kratzwald (CTO) in 2021. Both completed their PhDs at ETH Zurich, where they studied manufacturing applications of AI at industry leaders such as Siemens and Aker Solutions. Together with Torbjørn Netland, a renowned ETH professor of production management, they realized the value of their research and decided to make their technology available to the broader industry.

Manufacturing lags in data use despite a surge from sensors. This data gap offers a big chance for manufacturers struggling with unstable supply chains. Wasting 20% in manufacturing hurts profits, but even more, it loses customers. EthonAI helps by empowering data-driven decisions for margins and satisfaction.

EthonAI's Manufacturing Analytics System (MAS) is a new AI-powered software platform that analyzes all factory data to give real-time insights, helping managers fix problems and improve efficiency. Major manufacturers like Siemens and Lindt and Sprüngli already use MAS. Siemens for quality control and efficiency analysis at its factory in Zug, while Lindt to understand how ingredients, machines, and factories affect truffle quality as it produces billions of truffles each year.

The company will use the new funds to improve its platform and enterprise offerings for customers expanding MAS across factories.

The ICT startup was ranked among the TOP 100 Swiss Startups in 2023.

EthonAI's team