Belgian industrial AI startup raises $40m
Oqton combines several manufacturing software capabilities such as CAD, PLM, CAM, IOT, MES, QMS into a single platform. This opens up AI and machine learning automation and optimization so that users can automatically capture expert knowledge and eliminate repetitive tasks, access technologies remotely and across multiple sites, and optimize production planning to improve utilization and quality.
The Series A round was led by b2B software specialist Fortino Capital with PMV, the regional Flemish investment fund, and by Sandvik, a global engineering group.
The founding team (Samir Hanna and Ben Schrauwen) and several angel investors, including Carl Bass (former CEO Autodesk), Dries Buytaert (Drupal and Acquia), and Peter Mercelis (Layerwise) also participated in the round.“We can already achieve 100 percent automation in the dental and jewelry verticals, resulting in 30 percent overall cost reduction,” said Samir Hanna, Oqton’s Co-Founder who is stepping down as CEo to become Chairman. “Given the platform strategy, the software can be targeted to many specific industry verticals, like dental, jewelry, medical, industrial and aerospace, as well as to different personas and workflows within those industries.”
Ben Schrauwen, Oqton’s CTO, is taking over as CEO.
The fully integrated platform also links to traditional technologies such as CNC, welding, and post-processing machines for any end-to-end manufacturing solution, making processes faster, more adaptable, and more cost-effective.
Oqton has already established partnerships with EOS, Sisma, Trumpf and Sandvik.
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