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  • Profet AI helps manufacturers build prediction models and industrial AI software • australiabusinessblog.com

Profet AI helps manufacturers build prediction models and industrial AI software • australiabusinessblog.com

Professional AI, a Taiwanese startup that creates auto machine learning software for manufacturers, announced today that it has raised $5.6 million in Series A funding. The round was led by Darwin Ventures. Returning investors Hive Ventures, AUO and SVTI also participated, along with Harbinger VC and Jensen Capital Management.

Founded in 2018, Profet AI’s customers include Foxconn, Advantech and ASE Group and says it will double its revenue by 2022. The funding will be used for the expansion of Prophet AI in Japan, Southeast Asia and China, with plans to sign joint ventures with overseas partners.

Profet AI’s software allows users to build prediction models and industrial AI apps for manufacturing and digitalization, even if they only have basic machine learning knowledge.

The company’s flagship products are the AutoML Virtual Data Scientist Platform and Ready To Go Applications. They are intended for use by customers in the semiconductor, electronics, chemical and textile industries.

The AutoML Virtual Data Scientist Platform is a no-code development tool that allows users to build enterprise AI applications, while Ready To Go applications are industry-specific AI apps ready to run in public cloud or on-premises environments.

In a statement, Kay Lin, Darwin Venture Management partner, said: “Prophet AI’s AutoML Virtual Data Scientist Platform is based on empowerment, enabling rapid digital transformation and intelligent evolution in the manufacturing industry. Darwin is very optimistic about the strengths of Prophet AI and will use our solid background in the semiconductor and electronics industry to actively support the market development of Prophet AI.”

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