June 15, 2017
Announcing Our Seed Funding
We’re excited to announce that Scortex has raised €1.8M in seed funding from Alven and Notion.
The genesis of the idea of Scortex was conceived when the founding team, after working several years on AI, realized that the manufacturing industry, despite all the improvements through automation, still did not have an elegant solution for the quality control process. Taking cue from this and during the course of their research, they decided to focus on building a scalable, programmable and automated solution for complex inspections in the industrial arena.
Today we are proud to announce that our initial vision has been ratified by a group of industry recognized investors in the form of a €1.8M seed funding round. This fund will fuel our initial scaling efforts and we will also have the chance to get guidance from a group of people who know the industrial landscape from a different vantage point. The financing was led by: Notion, Alven.
The proceeds of this fundraise will be used for:
- Growing the team
- Higher investment in R&D
- More time to develop our quality control solution
- Acquisition of more robust hardware for a better performance of the system.
We’re also excited to share that Scortex has moved into a new office space. We’re eager to make the space our own and feel that it is well aligned with our expected growth in the coming months.
We thank the investors, Notion and Alven Capital, for the trust and the partnership and we look forward to building a better and stronger Scortex together with them!