Israeli visual inspection solutions developer Kitov Systems has raised $10 million led by RSBG through HAHN Group, and with the participation of Global IOT Technology Venture (GiTV).
Based in Petah Tikva, Kitov Systems was founded by CTO Dr. Yossi Rubner and VP R&D Nir Avrahami. The company develops AI-based solutions for visual inspection in industrial manufacturing. The systems reduce manufacturing costs, eliminate inefficiencies and improve quality without the need for any programming or automation expertise. Kitov Systems technology employs computer vision, artificial intelligence capabilities including deep learning, advanced robotics and big data analytics.
Through this investment, the HAHN Group, a global provider of automation and robotic solutions, strengthens its strategic presence in the field of Industrial Internet of Things (IIOT) and Digitalization. The customers of the HAHN Group will benefit from the digital expertise and the technology of Kitov Systems.
HAHN Group CEO Thomas Hahn said, "Kitov's IIOT competence has the potential to reshape the industry by helping manufacturers to overcome the challenges of quality inspection. We believe that introducing Kitov's IIOT advanced technology will assist our customers, as well as manufacturers in any industry, to go through the fourth generation of industrial transformation using the power of algorithms, data analytics and machine learning for smart manufacturing in the cyber age."
Kitov Systems CEO Hanan Gino said, "The Kitov solution has already been deployed by leading Electronics Manufacturing Services (EMS) providers and OEM customers, with installations in Europe, China, USA, Mexico and Israel. Kitov Systems will use the funds to grow the sales by reaching new customers in different industries, leveraging HAHN's geographical footprint and broad customer base."
Rubner added: "We have developed artificial intelligence systems for advanced manufacturing that can be intuitively trained within a few hours by a non-expert to automatically plan and perform sophisticated visual inspection tasks on complex 3D products at highest performance. We intend to further develop our technology, leveraging our unique ability to synergize several technologies such as computer vision, artificial intelligence, robotics and data analytics, driven by creative and dedicated teamwork."
Published by Globes [online], Israel business news - en.globes.co.il - on October 10, 2018
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