Mode, a San Mateo, CA-based company which specializes in providing solutions that advance digital transformation at factories and construction sites through the internet of things (IoT) and generative AI, raised $8.75M in Series B funding.
Backers included SBI Investment Co., Ltd., True Ventures, JR East Startup Co., Ltd., and Daiichi Jitsugyo Co., Ltd.
The company intends to use the funds to further enhance the expansion to the North American market, with regards to both customer acquisition and potential global partnerships.
Led by CEO Gaku Ueda, Mode provides guidance and tools for more businesses to improve their operations by connecting them to their data and insights, allowing them to be more proactive and efficient in what they want to accomplish. Until now, the company has been developing its business around the utilization of IoT technology for data utilization. In June 2023, Mode announced the development of “BizStack AI Assistant,” integrating generative AI with IoT technology, evolving toward solutions that make data usage more efficient, and envisioning a future where AI works alongside people in industrial facilities, construction sites, and logistics.
Commenting on the news, Gaku Ueds said: “Our company has been providing solutions that utilize on-site data from construction sites, manufacturing sites, and specialized warehouse facilities to enhance the daily operations of businesses. Although we are a software company, our members have donned helmets, rolled up their sleeves, and immersed themselves in the sites where our technology helps to uncover insights from the real-world environment. We are deeply grateful for the continued support from our investors.”
FinSMEs
10/04/2024