AI specialist Oqton raises series A funding

January 18, 2021 //By Jean-Pierre Joosting
AI specialist Oqton raises series A funding
Set to disrupt manufacturing as a one-stop, Industry 4.0 and AI driven ‘cloud end-to-end production platform’.

Oqton, Inc., specialising in AI for the manufacturing industry has raised over $40M in a Series A financing round, led by Fortino Capital, a leading B2B software investor, by PMV, the regional Flemish investment fund, and by Sandvik, a global engineering group. The founding team (Samir Hanna and Ben Schrauwen) and several angel investors, including Carl Bass (former CEO Autodesk), Dries Buytaert (Drupal and Acquia), and Peter Mercelis (Layerwise) also participated in the round. The financing will be used to further develop its platform, while expanding its commercial partnerships in multiple domains and verticals (additive manufacturing, robotic welding, CNC machining).

Oqton’s platform is unique in that it combines several manufacturing software capabilities (CAD, PLM, CAM, IOT, MES, QMS) into a single platform, enabling an unprecedented degree of AI-powered automation and optimization. Users can automatically capture expert knowledge and eliminate repetitive tasks, access technologies remotely and across multiple sites, and optimize production planning to improve utilization and quality.

Samir Hanna, Oqton’s Co-Founder and Chairman, said: “We can already achieve 100% automation in the dental and jewelry verticals, resulting in 30% overall cost reduction. Given the platform strategy, the software can be targeted to many specific industry verticals, like dental, jewelry, medical, industrial and aerospace, as well as to different personas and workflows within those industries.”

Being fully integrated, users can also link the platform to their traditional technologies, such as CNC, welding, and post-processing machines for a truly end-to-end manufacturing system, making their processes faster, more adaptable, and more cost-effective. Oqton has already established partnerships with EOS, Sisma, Trumpf, Prodways and Sandvik.


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