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 - 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.”