Total amount raised
$80.1 Millions
Latest funding date
February, 2022
Location
Instrumental has successfully raised $50 million in its Series C funding round, backed by investors such as BAM Elevate and Eclipse Ventures. The company offers an AI and data platform designed to enhance manufacturing processes, particularly for complex electronics.
Keep reading to explore the intricacies of Instrumental's fundraising journey and the investors backing this innovative platform.
What Is Instrumental?
Instrumental, founded in 2015 by Anna-Katrina Shedletsky and Samuel Weiss, is based in Palo Alto, California. The company specializes in providing an AI and data platform designed to enhance manufacturing processes.
Instrumental's software is deployed on global assembly lines, helping top-tier manufacturers find and fix issues, thereby improving production yields and preventing schedule slips. The platform aggregates data, discovers novel defects, and accelerates failure analysis using AI.
With a team of 51-100 employees, Instrumental continues to innovate in the manufacturing sector, focusing on reducing costs related to scrap and rework.
How Much Funding Has Instrumental Raised?
- Seed Round
- Amount Raised: $2.8M
- Date: December 2015
- Lead Investors: First Round Capital, Root Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial AI and data platform for manufacturing.
- Series A
- Amount Raised: $7.5M
- Date: June 2017
- Lead Investors: Eclipse Ventures, Root Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the AI-powered manufacturing technology and expand market reach.
- Series B
- Amount Raised: $20M
- Date: July 2020
- Lead Investors: Canaan Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand business in the electronics space and enhance go-to-market functionality.
- Series C
- Amount Raised: $50M
- Date: January 2022
- Lead Investors: BAM Elevate
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand manufacturing optimization solutions.
Total amount raised: $80.3M. Current valuation: Not publicly disclosed.
Key Investors
- BAM Elevate
- Details: BAM Elevate is a venture capital firm that focuses on investing in innovative technology companies. They have a strong track record of supporting startups through various stages of growth.
- Investment Focus Areas: Technology, AI, Manufacturing.
- Notable Investments: Instrumental, [Other notable investments not specified].
- Canaan Partners
- Details: Canaan Partners is a venture capital firm that invests in early-stage technology and healthcare companies. They have a diverse portfolio and a history of successful exits.
- Investment Focus Areas: Technology, Healthcare, Fintech.
- Notable Investments: LendingClub, Ebates, Match.com.
- Eclipse Ventures
- Details: Eclipse Ventures focuses on investing in companies that are transforming industries through advanced technology. They have a particular interest in hardware and manufacturing sectors.
- Investment Focus Areas: Hardware, Manufacturing, Robotics.
- Notable Investments: Clearpath Robotics, Augury, Bright Machines.
- Root Ventures
- Details: Root Ventures is a venture capital firm that invests in hardware, software, and data science startups. They are known for their hands-on approach and technical expertise.
- Investment Focus Areas: Hardware, Software, Data Science.
- Notable Investments: Fictiv, Particle, Instrumental.
- First Round Capital
- Details: First Round Capital is an early-stage venture capital firm that invests in technology startups. They are known for their extensive network and support for entrepreneurs.
- Investment Focus Areas: Technology, Consumer, Enterprise.
- Notable Investments: Uber, Square, Warby Parker.
What's Next for Instrumental?
Instrumental stands at the cusp of a significant opportunity in the global electronics manufacturing market. With its AI-powered technology, the company can revolutionize how manufacturers detect and address anomalies, promising substantial improvements in efficiency and quality control. The vast market size and high renewal rates with existing customers underscore the potential for expansive growth.
As Instrumental scales, future fundraising rounds seem likely, given its disciplined approach to fund deployment and the growing demand for its solutions. However, challenges such as integrating technology into existing manufacturing lines and managing data processing in facilities with limited internet capacity, particularly in regions like China, could pose hurdles. Nonetheless, the company's innovative edge positions it well for continued success and potential acquisition interest from larger industry players.
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