Startup company Seebo, which develops technology for forecasting quality problems

Startup company Seebo, which develops technology for forecasting and preventing output and quality problems in manufacturing plants, is expanding its B-Series round of funding to $ 24 million. The round was led by the Vertex Ventures Fund, which tripled its investment in the company, with the participation of the 10D Fund, Phoenix and Leumi Partners. The company has invested $ 46 million since its inception, including the current round.
Seebo's technology enables manufacturing plants to detect inefficiencies or predict disruptions in the production process prior to their formation and thus prevent production losses in output and quality that can reach tens and even hundreds of millions of dollars per year. The company's customers include some of the world's leading manufacturers such as Nestle, PepsiCo, General Mills, Brila, Mondelez, and leading Israeli companies such as ICL, Tnuva, Strauss and Osem.
Seebo's solution processes information coming from the production line, usually from hundreds to thousands of different sensors and which is distributed in different databases. At the heart of the company's technology is artificial intelligence that relies on understanding, context - dependent, the overall production process. In many cases manufacturers do not have the tools to locate the causes of disruptions and inefficiencies in the process, since the contexts are hidden deep within the data created in complex manufacturing processes. By exposing the root causes of process inefficiencies, alerts and automatic forecasting of the causes of process failures, Seebo enables continuous improvement in processes and production quality.
Seebo was founded by Lior Akavia and Liran Akavia. The company employs 45 employees, all of whom work from Israel, and the investment will be used for a significant increase in the company's growth, which will include doubling the workforce with an additional 40 employees. The expansion of the recruitment round was carried out during an exponential growth period of the company which has grown by about 400% in the last year and added many new customers as well as significantly expanded existing customers.
Over the past year many manufacturers have faced a more challenging and competitive market following corona disruptions. Some manufacturers have had to deal with unprecedented increases in demand for certain products due to a sudden change in consumption habits. At other manufacturers, the need has arisen to improve efficiency and reduce losses resulting from an inefficient manufacturing process. Seebo's solution provided manufacturers with a quick response and the ability to achieve these goals without the need to purchase new equipment or set up new production lines.
According to Lior Akavia, CEO of Seebo: “The impressive growth we went through last year and that we continue to experience is made possible thanks to the talented team members at our development center, who combine data scientists and quality programmers who create technologies that change the way major manufacturers operate. By doubling the workforce, we will increase our influence in the industry, which is one-sixth of the world economy, and help the big brands operate in a more efficient and sustainable way. "
"We tripled the investment after nine months of seeing how Seebo saves millions of dollars for the world's largest food and chemical producers and how they are happy to expand the solution to more production lines," said Yanai Oron, a partner at Vertex. "Seebo is the only real solution maker. Line-level analysis and the overall production process, and that is also the source of its success. "
The World Economic Forum has selected Seebo as a technology pioneer for 2020. This is an exclusive list of technology companies that are developing a unique innovation that contributes to the future well-being of humanity and the continuation of global economic growth.