KIT-AR, a provider of an augmented worker platform for the manufacturing industry, has this week announced the completion of a EUR €2 million seed stage funding round. KIT-AR stated that the funding will help the company to push onwards with its vision to become the reference platform for augmented workers in the manufacturing industry.
The investment round was co-led by Armilar Venture Partners and Caixa Capital Risc, with participation from RKKVC and Techtree fund (managed by Iberis Semper), including follow-on investments from Sintef Venture V and Best Horizon.
Today, KIT-AR’s patent-pending solution leverages emerging technologies, such as augmented reality (AR) and artificial intelligence (AI) to consistently reduce errors in complex production, logistics and quality control, for customers in the automotive industry, aerospace and electronics manufacturing industries.
“We hear about the perils of automation and the rise of the robots, but reality is less drastic. Augmented workers are already developing synergies between man and machine to harness new strengths and overcome their shortcomings,” said Manuel Oliveira, CEO of KIT-AR. “We are driven to enhance workers in such a way that they can do their work right every time, all the time.”
João Dias, Principal at Armilar Venture Partners commented: “Frontline workers of industrial companies are being faced with increasing challenges, particularly having to execute more complex instructions in less time, potentially generating production downtimes and defects. Augmenting those frontline workers with tech-based tools is crucial, not only at the instruction support level, but mostly providing mobile 5G-enabled automated quality control systems. This is an area in which KIT-AR has developed industry-graded proprietary IP, spun-off from leading research institutions and already validated by initial industrial customers.”
Also commenting on the investment was David Sola, Principal at Caixa Capital Risc, who said: “We believe that we are facing an exceptional moment for a large-scale adoption of AR technologies in both manufacturing and industrial processes. The growing complexity of the tasks to be performed, costs related to the disconnection of the employee with the Manufacturing Execution Systems and the state of the art of the technologies necessary to AR large-scale implementation are some of the drivers endorsing this thesis.”
“Our team is ready and eager for this next stage”, Manuel Oliveira points out that “KIT-AR is at the forefront of the current industrial revolution and due to our strong research DNA and truly innovative mindset, we’ll continue to be a forerunner. We’ll be pushing the boundaries of technology with a human centric view and augment workers everywhere. As of today, we’re actively looking to connect with all manufacturing companies that share this vision of excellence with us”.
For more information on KIT-AR and its augmented reality solutions for workers in the manufacturing industry, please visit the company’s website.
Image credit: KIT-AR