Swiss artificial intelligence startup EthonAI has generated a total of $16 million in earnings by using various algorithms to help factories reduce waste.
You’d be surprised how many products, from semiconductors to chocolate, are produced with the help of artificial intelligence. Swiss artificial intelligence startup EthonAI is aiming to establish a foothold in the emerging market by focusing on factory optimization.
EthonAI uses algorithms that prevent waste
“Production is at a critical point, and companies that fail to adapt to AI risk being left behind,” said CEO Julian Senoner, who co-founded EthonAI after completing his PhD in AI systems in Zurich.
The company uses artificial intelligence to detect problems in production lines, helping factories reduce the number of defective products that end up as waste. EthonAI achieves this through its Manufacturing Analytical System (MAS).
This system employs AI algorithms to analyze large data sets collected by sensors placed at various points along the production line. It then presents the most critical data on a dashboard in a format that plant managers can easily understand.
EthonAI secured $16 million in funding from European VC Index Ventures, which has previously backed companies such as Meta, Slack, and Dropbox. The startup collaborates with major manufacturers, including German energy giant Siemens and pharmaceutical manufacturer Roche.
The software is also utilized in three factories owned by Lindt & Sprüngli, one of the world’s most beloved chocolate brands. For example, AI assists production managers in fine-tuning machine temperatures or product patterns to prevent drops in quality before they occur.
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