Kitov Systems, a Petach Tikva, Israel-based technology company which specializes in universal solutions for visual inspection, raised £10m in Series A funding.
RSBG, an industry holding and investment company made the investment through HAHN Group, with participation from Global IOT Technology Venture (GiTV).
Led by Hanan Gino, CEO, and Dr. Yossi Rubner, founder and CTO, Kitov Systems develops AI-based solutions for visual inspection in industrial manufacturing to reduce costs, eliminate inefficiencies and improve quality without the need for any programming or automation expertise. The company’s technology is leveraging Computer Vision, Artificial Intelligence capabilities including Deep Learning, advanced Robotics and Big Data Analytics.
The Kitov solution has already been deployed by Electronics Manufacturing Services (EMS) providers and OEM customers, with installations in Europe, China, USA, Mexico and Israel.
With this transaction, the HAHN Group, a global cross-industry provider of premiere automation and robotic solutions, strengthens its strategic presence in the field of Industrial Internet of Things (IIOT) and Digitalization. The customers of the HAHN Group will benefit from the digital expertise and the technology of Kitov Systems.
The company intends to use the grow the sales by reaching new customers in different industries, leveraging HAHN’s geographical presence and broad customer base.