Oqton, Inc., a Ghent, Belgium and San Francisco, USA – based software company specialising in AI-powered solutions for the manufacturing industry, raised over $40M in Series A financing.
The round was led by Fortino Capital, PMV, and Sandvik with participation from Samir Hanna and Ben Schrauwen and angel investors Carl Bass (former CEO Autodesk), Dries Buytaert (Drupal and Acquia), and Peter Mercelis (Layerwise).
The company intends to use the funds to further develop its platform, while expanding its commercial partnerships in multiple domains and verticals (Additive manufacturing, Robotic welding, CNC machining).
Oqton develops AI-powered manufacturing solutions to allow manufacturers to manage, optimize, and automate their additive manufacturing workflows. The cloud-based platform links data across the complete manufacturing ecosystem – from design to production to logistics.
The system combines several manufacturing software capabilities (CAD, PLM, CAM, IOT, MES, QMS) to enable AI-powered automation and optimization. Users can automatically capture expert knowledge and eliminate repetitive tasks, access technologies remotely and across multiple sites, and optimize production planning to improve utilization and quality.
The round coincides with the announcement that Ben Schrauwen, Oqton’s CTO, will be taking over as CEO. Samir Hanna, Oqton’s Co-Founder and leaving CEO, will become Executive Chairman.
The company also has offices in the US, China and Denmark.
FinSMEs
15/01/2020