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Executing the process of production lines for big manufacturing units is a complex mathematical extensive task. The London-based startup Flexciton has transformed this intricate job into an effortless automatic exercise.
Flexciton has just gone through a fund influx of €2.8 million from Backed VC, JOIN Capital and Entrepreneur First. Earlier, the startup had raised £888,000 in 2017.
Partner of Backed VC, Alex Brunicki, expressed, “Jamie and his team have ambitious plans to transform manufacturing and their beach-head product, which lies at the heart of planning and scheduling, positions them effectively to grow their sphere of influence right across the factory. The team have commercialised faster than any Industry 4.0 company we have seen to date, so it is hugely exciting to continue our support in a much more material way.”
30x faster production & 20% lower operational cost
Flexciton enables large manufacturing plants to achieve higher production through its AI-driven cloud-based production planning and scheduling solution. The cutting edge software assesses the existing production data and then develops an intelligent data model for an optimised production planning and scheduling.
A step towards a green economy
The optimisation ensures precise usage of resources, reduction in scrap and lower energy cost. As a result, the technology facilitates industries to attain lesser carbon footprints and contribute to a green economy.
Among the 100 most disruptive companies
Flexciton was established in 2016 by Dennis Xenos and Jamie Potter. The startup is dedicated to enhancing the production efficiency of every factory in the world through artificial intelligence (AI). In 2018, it was nominated as one of the top 100 disruptive companies in the world.
Companies from across industries, including textile, food-processing, electronics and automobile, avail the smart and efficient production planning and scheduling solution from Flexciton.
The expert team of Flexciton has published more than 140 peer-reviewed academic papers articulating the practical application of this technology in eight different industrial use cases. Notably, Dr. Giorgos Kopanos, senior optimisation scientist at Flexciton’s has even published a book on the subject.
Invigorated after the investment
Jamie Potter, CEO and Co-founder of Flexciton shared, “I’m really excited to have closed this round because it represents the tremendous progress we have made here at Flexciton, and the incredible trajectory we are on. Over the past year, we’ve experienced extremely high demand for our technology, and our clients include some of the most advanced manufacturers in the world.”
Potter added, “This has only been possible because we have built a truly world-class team and our technology is cutting edge. We are looking to rapidly hire talented people to grow our team, so we can deliver our product to market even faster.”
Stay tuned to Silicon Canals for more updates in the tech startup world.
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