Sources: Seebo, Tel Aviv; CP staff
A $24 million financing round will position Seebo to enhance its Process-Based Artificial Intelligence solution for cement companies and their peers across industrial and consumer products. Company programmers have demonstrated the solution’s potential to assist cement operators in reducing kiln feed variance and improving clinker quality; increasing kiln throughput; extending refractory service life; optimizing pyroprocessing temperatures, along with fuel and energy consumption; plus, lowering emissions and associated exhaust treatment costs.
“The increasingly complex business environment has pushed manufacturers to explore new ways to eliminate lingering inefficiencies in their production processes,” says Seebo Co-Founder and CEO Lior Akavia. “These inefficiencies are responsible for significant production losses each year, but in many cases manufacturers didn’t have the tools to find the root causes, as these were hidden deep within the complex manufacturing processes and data. That’s why we’ve seen such an increase in demand for Process-Based Artificial Intelligence: this is precisely the problem we solve.
“Seebo is the only vendor providing a productized solution that is based on artificial intelligence across the full product line,” adds Yanai Oron, general partner at Vertex Ventures, a global investor with offices in Israel and Silicon Valley, and current funding round leader. “We have tripled our investment nine months after our initial investment, while observing up close how Seebo is saving process manufactures millions of dollars—and how they in return are happy to expand the solution to additional lines.”