Inezy Successfully Completes Series A Funding to Enhance AI Technology in Industrial Processes
Inezy, after successfully securing Series A investment, plans to use the funds for advancing AI technology, expanding market reach, and enhancing business development, particularly in the cement industry.
Inezy, a company that has made significant strides in the field of industrial process optimization using AI, has successfully completed its Series A funding round. The company plans to utilize the investment for the enhancement of AI technology, expansion in the market, and strengthening of business development, with a focus on recruiting top talent.
Inezy has achieved notable success in automating and optimizing processes in various industries, including the cement industry. The company has successfully implemented AI automation in the cement kilns, contributing to significant advancements in the sector. In 2023, Inezy signed a contract for a demonstration project with a Japanese steel company, and in 2024, it plans to intensify its efforts in optimizing manufacturing processes in Japan, with further plans to expand into the EU and the US markets.
Despite the ongoing global economic downturn and rising interest rates due to persistent economic recession, Inezy's recent investment acquisition is particularly meaningful. It is a testament to the company's industrial process optimization AI technology, business capabilities, and potential for expansion. Inezy aims to become a leading company in the global process optimization AI solutions sector.
Founded in 2019 by a group of leading researchers in the field of Explainable Artificial Intelligence (XAI), led by Professor Choi Jae-sik, who currently heads the XAI Research Center at KAIST, Inezy has developed its industrial process optimization and predictive maintenance AI solution, INFINITE OPTIMAL SERIES™, using domestic technology. The company's mission is to benefit humanity with AI, providing the most accurate AI prediction services and leading the way in intelligent and advanced industrial automation with its world-class explainable AI solutions.
Inezy's efforts are part of a broader movement in the AI industry, where companies like Hitachi and NEC in Japan have been developing and applying XAI technologies in various sectors since 2017. These developments underscore the growing importance and impact of AI in industrial processes, including the cement industry.
Source:
AITimes