Kinta AI Draws $5.5 Million From Investors in Series A

Industry and technology concept.

Efficiency is everything in the manufacturing business. Optimizing workflow, efficient scheduling, and maintaining minimal downtime are key to the success of any manufacturing company. Artificial intelligence (AI) startup business Kinta AI recently garnered $5.5 million from investors to digitize factory floor planning and operations.

Lachy Groom’s LGF and Mo Koyfman’s Shine Capital led the Series A financing for Kinta AI. The business previously garnered support from investors, including BoxGroup, Abstract Ventures, Supernode Ventures, Third Kind Venture Capital, and a number of angel investors in an undisclosed seed round. Funds from the latest round of support for the AI startup will be used to scale factory implementations with existing clients and pursue business opportunities with new manufacturers.

“Kinta CEO Steven Glinert is one of the brightest people I’ve ever met. He’s a person who’s interested in solving other people’s problems,” said Koyfman.

Streamlining Factory Floors With AI

Founded in 2017 by Glinert, the startup business offers a software solution for optimizing factory operations. The AI platform built by the company uses machine learning processes to run millions of simulations in order to determine the optimal schedule for the manufacturing process. The final product is then presented to managers, cutting out repetitive tasks and potential room for errors in the process.

Kinta AI claims that its AI can produce up to a 14% increase in on-time deliveries, a 49% decrease in makespan, and a 45% decrease in setup times. The reports generated by the startup’s software also allow managers to quickly identify any potential bottlenecks early on, ensuring that delivery times and benchmarks set by their business are met. Additionally, Kinta AI offers its software as a service on a per-factory license basis.

“Kinta tackles some of the most complex and intricate tasks in operations planning so that today’s manufactures can optimize the use of their valuable production resources,” said Steven Glinert, CEO and founder of the AI startup company. “More than ever, COVID-19 has shown us that global supply chains are fragile and manufacturing operations need to be agile and flexible to maintain efficiency. Our software promises manufactures this resiliency and unlocks the full potential of their production resources.”

Competition in Operations Management Software Industry

The startup company is tapping into a bustling industry. Kinta AI has already worked with names such as Stanley Black & Decker and Diebold Nixdorf. Market research valued the manufacturing operations management software industry at $7.21 billion in 2018. That value is expected to grow at a CAGR of 9.5% from 2019 to 2026 until the industry eventually reaches $15.21 billion.

Kinta is not the only AI company drawing investor support for its operations software solutions. DataProphet, another AI manufacturing startup based out of Cape Town, South Africa, has generated $6 million in support from investors since its founding, and New Hampshire startup company Datanomix closed a $2 million Series A in 2019 for its own manufacturing analytics platform.

James White

James White is a Michigan State University graduate with a BS in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.

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