Seebo completes $15 million raise in extended series B

Seebo posted on 04 Mar 2021

Vertex Ventures triples its investment in the Industrial AI company that experienced exponential growth during the Covid-19 crisis

Tel Aviv-based Industrial AI startup Seebo Interactive Ltd., which develops predictive quality and yield solutions, announced on Thursday that it has completed its extended series B financing round, for a total of $24 million, adding $15 million to $9 million it had raised in July 2020.

The round was led by Vertex Ventures, which tripled its previous investment in the company, with participation from 10D, The Phoenix, and Leumi Partners. The new funding brings Seebo’s total capital raised to date to $46 million.

Img

Seebo’s Process-Based Artificial Intelligence solution enables manufacturers to identify process-driven inefficiencies in their production processes in order to predict and prevent production losses. Seebo succeeded in infusing Artificial Intelligence algorithms with deep process manufacturing expertise - giving its solution the unique ability to understand each individual production process. This saves its customers significant funds each year, by revealing the hidden causes of their production losses.

Seebos’ customers include leading global manufacturers such as Nestle, PepsiCo, General Mills, Barilla, Mondelez, Allnex, ICL, as well as household Israeli brands Tnuva, Strauss, and Osem.

Seebo was founded in 2012 by brothers Lior Akiva (CEO) and Liran Akiva (COO) and employs 45 people. The funding will be used to expand its global reach, double its employee headcount, and continue enhancing its AI solution.

“By doubling the size of our team we will increase our clout in the industry, which makes up a sixth of the global economy, and help major brands operate in a more efficient and sustainable manner,” Lior Akiva said.

“We are happy to announce that we have tripled our investment nine months after our initial investment in Seebo, while observing up close how Seebo is saving process manufactures millions of dollars - and how they in return are happy to expand the solution to additional lines,” said Yanai Oron, General Partner at Vertex Ventures. “Seebo is the only vendor providing a productized solution that is based on Artificial Intelligence across the full product line.”

Copied

Recent posts

Img

Aporia raises $5M for its AI observability platform

Such a pleasure to share the news of our investment in Aporia - an AI model monitoring platform founded by our very own Liran Hason. Aporia is filling a very critical gap in production readiness of AI, so it's no surprise that it is already being used by multi-billion dollar companies.

04 Mar 2021
Read more

Img

Innoviz completes SPAC merger, begins Nasdaq trading

Very excited to share the news of our portfolio company Innoviz Technologies, officially starting to trade on Nasdaq (INVZ) this week!

Ever since leading the seed round of financing only five years ago, we've seen Innoviz work relentlessly to change the automotive industry with its innovative LiDAR tech. We are so proud of the team and are right behind you.

04 Mar 2021
Read more

Img

E-commerce marketing startup Yotpo raises $230M at a $1.4B valuation

Proud to be walking this path with Yotpo, as they announce today a series F round, with a valuation of $1.4B!

04 Mar 2021
Read more

Quick Links

Our Global Network

Vertex Ventures Israel is part of the global Vertex Ventures network of funds.


In addition to Israel, the Vertex Global Network is comprised of affiliates in Silicon Valley, China, Southeast Asia and India. This provides a unique platform for our portfolio companies to realize their full potential by leveraging the combined experience and resources of our extensive network of global partners.

Copyright

© 2019 by Vertex.

All rights reserved.

Legal