Fero Labs, a New York-based provide rof Explainable Machine Learning software dedicated to the industrial sector, raised $9M in Series A funding.
The round was led by Innovation Endeavors with participation from Deutsche Invest VC.
The company intends to use the funds to expands its sustainable solutions
Led by Berk Birand, CEO, Fero Labs provides explainable machine learning software for industrial process optimization. Plant experts use Fero Labs to automatically generate explainable ML models that take into account key process parameters and variations. These models can be deployed in real-time to ensure that the plant operates at peak performance by continuously adjusting to the process and market changes.
The software supports numerous industries including consumer goods, automotive, steel and chemical industries in particular through lighthouse users like Henkel, Volvo Trucks, Gerdau, and Covestro.