Industry 4.0 startup Kinta AI has announced that it has raised $5.5M in funding. Kinta specializes in optimizing complex factory floor planning and operations by deploying AI-enabled software and streamlined workflow tools. The funding will help Kinta scale out factory implementations across existing top general industrial clients as well as deploy at a series of new manufacturing firms.
Kinta is the first AI-powered platform for planning factory operations. Production planning is a core activity at factories. Materials, labor, and machines are coordinated to fulfill orders on time. Kinta’s software ingests the data and leverages algorithms to generate actionable plans that allow factory managers real-time control and coordination of factory resources. Kinta’s solution has already demonstrated dramatic decreases in production time and inventory and increases in asset utilization and on-time delivery at the factories where it is deployed. This results in millions in recurring near-term annual savings for these factories and unlocks a virtuous cycle of value delivery over time.
“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. Koyfman’s Shine Capital found Kinta’s aim to transform a traditional industry compelling and a major driver of their investment.
Steven founded Kinta in November 2017 when he became interested in applying artificial intelligence to real-world business problems. The name of the company comes from a region in Malaysia, where Kinta’s first factory project was located. Today, Kinta’s solution has scaled to work with some of the biggest names in manufacturing worldwide to streamline their operations.
In today’s complex and digital manufacturing environment, Kinta’s high-fidelity production plans can serve as a factory-wide ‘operating system’ for day-to-day activities. Kinta provides factories with the visibility and strategic flexibility they need in order to keep pace with constantly changing priorities, demands and data streams. Over time, Kinta’s goal is to help manufacturers embark on a journey that results in an optimized, “lights out” factory that reduces wasteful resource consumption with minimal human intervention.
“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,” says CEO Glinert. “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.”
For more information: www.kinta-ai.com