VISENSE raises CHF 750’000 for enabling industrial manufacturers to improve underperforming industrial machines and collaboration
Summary
This pre-seed round provides VISENSE with the initial financial injection, enabling them to help their customers significantly reduce unplanned machine downtime. Its software utilizes machine learning and computer vision to deliver error analysis through its dashboard and digitalizes central processes to enable data-driven decision-making. Finally, all machine faults are autonomously documented visually to optimize communication between employees and other stakeholders.VISENSE was able to build up a broad customer base in a short period of time. Looking forward, the company will also benefit from the strong growth of the global industry 4.0 market, which was valued at USD 86 billion in 2020 and is expected to reach USD 267 billion in 2026, with a compound annual growth rate of 20.7%.Manufacturers will be able to purchase products that provide necessary AI capabilities in a way that they may be used without outside support, saving them the cost of hiring external resources to oversee their AI-related projects. This was the moment when we realized that there was a lot of room to improve the current state-of-the-art in error diagnosis for industrial machines and kickstarted VISENSE.Our advice for future IIoT entrepreneurs would be to persistently stick and explore the problem they try to solve and find a good solution in accordance with your customer base.