Domestic AI-based industrial robot developer Haber has closed its Series B funding, bringing its total fundraising amount to $ 27 million.
Ascent Capital, the main investor in the Series B financing, was joined by Elevation Capital, Accel, Beenext, Temasek partner Mukul Chawla and several others. Accel led Series A funding in 2019.
Raja Kumar, CEO of Ascent Capital, said: “Industrial automation is the next big global opportunity and we are delighted to partner with Haber, a leader in this field.
“In the future, not only productivity, but also sustainability and environmental awareness will play an equally important role in decision-making, giving Haber a distinct competitive advantage.
Haber robots automate the manual process of collecting, analyzing, measuring and responding to samples in factories.
Today, while industrial activities are predominantly motorized, they still require manual control. As the industry expands to meet demand, this leaves industries at the mercy of a very small number of qualified experts.
Haber identified this opportunity and filled the void using artificial intelligence. Haber’s solution enables industries to grow and drive sustainability.
Haber’s CEO Vipin Raghavan said, “With a deep understanding of AI and how industries work, Haber was able to implement a solution that automates the entire process. “
“Our flagship product, eLIXA, was launched in 2017, helping our customers achieve their sustainability and profitability goals. Testing and corrective actions, which previously took hours, are now reduced to minutes with a significant increase in accuracy. “
Haber believes that manual processes are slow and imprecise, resulting in overconsumption of raw materials, energy and water. It also affects the efficiency of equipment in the long run, thus requiring frequent maintenance interruptions. The absence of maintenance interruptions results in increased energy consumption and emissions.
Haber has helped customers save 50 billion liters of water and eliminate half a million tonnes of carbon emissions.