Luxembourg – May 8, 2018 – The Artificial Intelligence (AI) startup from Luxembourg Wizata just raised €1.5 million in fundraising, including €500,000 from the Digital Tech Fund.
The young company will expand its R&D center in Luxembourg to enhance its innovative solutions for global manufacturing companies and to implement the best of AI to production lines. The goal of strengthening synergies within the booming Lux tech environment will be further accelerated through the participation of the Digital Tech Fund. Wizata will also open two new locations in Germany and France, to complement the Luxembourg and Belgium offices.
“I’m proud for Wizata to be recognized as a promising AI company within the fast-growing Luxembourg innovation ecosystem. Our unique technology contributes to the high-tech transformation of Luxembourg’s long-standing metal industry expertise”, noted Jean-Philippe Hugo, CEO of Wizata.
Étienne Schneider, Deputy Prime Minister and Minister of the Economy, said: “Luxembourg is uniquely positioned to lead the EU in its fourth industrial revolution through strategic investments in innovative technologies such as artificial intelligence. Together with ambitious companies from Luxembourg such as Wizata, a company backed by the Digital Tech Fund, we can drive tomorrow's industrial excellence.”
Wizata provides AI solutions for the manufacturing and natural resources industries, with a strong expertise in the field of metal & mining. Plugged into the heart of complex manufacturing scenarios, Wizata leverages AI and data science to tackle key Industry 4.0 challenges, providing solutions in three primary areas of improvement: Production Process Optimization, Quality Sustainability and Predictive Maintenance. To ensure the latest technological improvements for its clients, Wizata developed two close partnerships: one with the cloud computing & AI leader Microsoft and the other with sensor ecosystem expert OSIsoft. The power of cloud computing and machine learning allows Wizata’s AI solutions to consider an almost infinite number of variables, enabling the company and its clients to explore previously inaccessible new ideas and perspectives. Founded in 2014, the company won the 2017 Microsoft Country Partner of the Year Award for Luxembourg and was named the 2016 Tech Startup of the Year in Luxembourg.
"We were quickly convinced by Wizata potential and we are enthusiastic about supporting the company for its commercial and product development”, detailed Marc Gendebien, founding partner of Expon Capital, manager of the Digital Tech Fund. “Wizata has the key ingredients of a successful startup: a great team with a global ambition and a great product with a global market."
Wizata develops AI solutions designed to solve identified business issues by considering manufacturing complexity with its time and space constraints. Adapting to fit the production lines specificities, its holistic AI models determine optimal rules and suggest the best course of actions with prescriptive analytics. An intelligent actor to assist the workforce, these advanced AI recommend actionable insights that operators can decide to execute or discard and provides clients with the ability to automate dull, expensive, unsafe or time-sensitive tasks.
About the Digital Tech Fund:
The Digital Tech Fund provides seed and venture financing to entrepreneurs running innovative startup companies active in the field of Digital Technologies. The fund’s aim is to foster long-term innovation, support the technology startup ecosystem in Luxembourg and facilitate the transfer of new digital technologies developed at the University of Luxembourg into successful spin-off companies. The Fund is backed by a roster of very high profile private and public investors who are committed to the successful development of the Luxembourg start-up ecosystem in general and portfolio companies, including SES, BIL, Arendt, SNCI, POST, Proximus, The State of the Grand-Duchy of Luxembourg, Université du Luxembourg and several successful entrepreneurs from Luxembourg.
Press contact:
Raphaël CAYROL
Public Relations Officer, Wizata
rca@wizata.com
GSM: +32 485 02 08 49