Kitov Systems, Pioneer in the Field of AI-based Automated Visual Inspection, Raises $10M in 'Series A', Led by HAHN Group
PETACH TIKVA, Israel, October 10, 2018 /PRNewswire/ --
RSBG, a leading industry holding and investment company invests through HAHN Group in Kitov Systems, a technology company based in Israel, which specializes in universal solutions for visual inspection.
Kitov Systems develops AI-based solutions for visual inspection in industrial manufacturing. The systems developed by Kitov reduce manufacturing costs, eliminate inefficiencies and improve quality without the need for any programming or automation expertise. Kitov Systems technology is leveraging Computer Vision, Artificial Intelligence capabilities including Deep Learning, advanced Robotics and Big Data Analytics.
With this transaction, the HAHN Group, a global cross-industry provider of premiere automation and robotic solutions, strengthens its strategic presence in the field of Industrial Internet of Things (IIOT) and Digitalization. The customers of the HAHN Group will benefit from the digital expertise and the technology of Kitov Systems.
"Kitov's IIOT competence has the potential to reshape the industry by helping manufacturers to overcome the challenges of quality inspection," says Thomas Hähn, CEO HAHN Group. "We believe that introducing Kitov's IIOT advanced technology will assist our customers, as well as manufacturers in any industry, to go through the 4'th generation of industrial transformation using the power of algorithms, data analytics and machine learning for smart manufacturing in the cyber age."
Hanan Gino, the CEO of Kitov Systems states: "The Kitov solution has already been deployed by leading Electronics Manufacturing Services (EMS) providers and OEM customers, with installations in Europe, China, USA, Mexico and Israel. Kitov Systems will use the funds to grow the sales by reaching new customers in different industries, leveraging HAHN's geographical footprint and broad customer base."
Manufacturers today are striving more than ever to boost quality and are spending billions of dollars annually on inspection processes that are still limited by the human factor.
The investment led by HAHN Group, with the participation of Global IOT Technology Venture (GiTV) at total of $10M is a genuine vote of confidence in Kitov Systems' innovative technology and its unique value proposition for manufacturers.
The founder and CTO of Kitov Systems, Dr. Yossi Rubner adds: "We have developed artificial intelligence (AI) systems for advanced manufacturing that can be intuitively trained within a few hours by a non-expert to automatically plan and perform sophisticated visual inspection tasks on complex 3D products at highest performance. We intend to further develop our technology, leveraging our unique ability to synergize several technologies such as Computer Vision, Artificial Intelligence, Robotics and Data Analytics, driven by creative and dedicated teamwork."
About HAHN Group
The HAHN Group consists of a network of specialized companies for industrial automation and robot solutions. With its own production sites in China, the Czech Republic, Croatia, Germany, Great Britain, India, Israel, Mexico, Switzerland, Sweden, Turkey, and the USA, the group currently employs approx. 1,100 staff at 19 locations and generated a total revenue of approx. 160 million euros in 2017. Well-known customers from the automotive, consumer goods, electronics, and medical technology industries benefit from the HAHN Group's 30 years of expertise and automation know-how.
For more information: https://www.hahn.group/en
About RSBG
RSBG is a leading international equity firm that invests in technology companies with a focus on long-term development and a sustained increase in the value of the investment.
For more information: https://www.rag-stiftung.de/en/
About GiTV
GiTV is an early-stage Japanese boutique venture fund with focus on technologies of Industrial digitalization that covers Internet of Things (IoT), AI, Robotics, Cyber Security, and Digital Services.
For more information: https://www.gitv.vc/
About KITOV Systems Ltd.
Kitov Systems is a developer of innovative automated visual inspection solutions for a broad range of production lines and markets. For more information, visit http://www.kitovsystems.com
Presse contact: Adi Weinberger, [email protected]
SOURCE Kitov Systems
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