Instrumental has successfully raised $80.1 million over four funding rounds, with the latest being a Series C in February 2022. The company leverages machine learning to provide real-time insights from assembly lines, identifying defects to enhance manufacturing quality and efficiency.
Keep reading to explore the intricacies of Instrumental's fundraising journey and the investors backing this innovative platform.
What Is Instrumental?
Instrumental, founded by Anna-Katrina Shedletsky and Samuel Weiss, is headquartered in Palo Alto and Shenzhen. The company specializes in providing AI-driven insights from assembly lines to identify and prevent defects in hardware products.
With a team of 51-200 employees, Instrumental captures images at multiple points along the assembly line, using machine learning to autonomously detect defects. This actionable data helps engineers iterate rapidly and prevent small issues from becoming significant problems.
Founded by former Apple engineers, Instrumental leverages their extensive experience in developing high-quality products to enhance manufacturing quality and efficiency.
How Much Funding Has Instrumental Raised?
- Series C
- Amount Raised: $50,000,000
- Date: February 2022
- Lead Investors: BAM Elevate, Eclipse Ventures, Canaan Partners, Root Ventures
- Motivation Behind the Round: To expand data-driven manufacturing solutions
- Series B
- Amount Raised: $20,300,000
- Date: July 2020
- Lead Investors: Eclipse Ventures, Canaan Partners, Stanford-StartX Fund, First Round Capital, Root Ventures
- Motivation Behind the Round: To scale operations and enhance product capabilities
- Series A
- Amount Raised: $7,500,000
- Date: March 2017
- Lead Investors: Eclipse Ventures, First Round Capital, Root Ventures
- Motivation Behind the Round: To use AI and industry experience to improve electronics manufacturing
- Seed
- Amount Raised: $2,300,000
- Date: December 2015
- Lead Investors: Phineas Barnes, First Round Capital, Root Ventures
- Motivation Behind the Round: To develop initial product and market entry
Total Amount Raised: $80.1 million. Current Valuation: $200 million (~estimated).
Key Investors
- BAM Elevate
- Details: BAM Elevate is a venture capital firm that led Instrumental's Series C funding round. They focus on investing in innovative technology companies.
- Investment Focus Areas: Technology, AI, Data-driven solutions
- Notable Investments: Not explicitly mentioned
- Canaan Partners
- Details: Canaan Partners is a venture capital firm that invests in early-stage technology and healthcare companies. They have been involved with Instrumental since the Series A round.
- Investment Focus Areas: Technology, Healthcare, Fintech
- Notable Investments: LendingClub, Match.com, Ebates
- Root Ventures
- Details: Root Ventures is a venture capital firm focused on hardware, software, and deep technology startups. They have been a consistent investor in Instrumental across multiple funding rounds.
- Investment Focus Areas: Hardware, Software, Data Science
- Notable Investments: Fictiv, Particle, Plethora
- Eclipse Ventures
- Details: Eclipse Ventures is a venture capital firm that invests in companies transforming essential industries through advanced technology. They have supported Instrumental from the early stages.
- Investment Focus Areas: Advanced Technology, Robotics, Industrial Automation
- Notable Investments: Samsara, Clearpath Robotics, Zoox
- First Round Capital
- Details: First Round Capital is a venture capital firm specializing in seed-stage funding. They were one of the early investors in Instrumental.
- Investment Focus Areas: Seed-stage, Technology, Consumer Products
- Notable Investments: Uber, Square, Warby Parker
What's Next for Instrumental?
Instrumental stands at the cusp of significant growth, with opportunities to expand its data-driven manufacturing solutions across various industries. Leveraging machine learning, the company aims to enhance quality control processes, tapping into a vast market that spans multiple countries. The potential for growth is immense, given the increasing reliance on AI and data in manufacturing.
Future fundraising rounds, such as a Series D, could be on the horizon as Instrumental continues to demonstrate technological advancements and market traction. However, the company may face challenges, including competition from similar solutions and the need to continuously innovate. Strategic partnerships and potential acquisitions could also shape its future trajectory.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Instrumental and gather other critical business insights.
Sign up for free on Clay and start transforming your sales approach today.
