AI-powered AM software company Oqton raises $40M
Based in the U.S. and Belgium, Oqton is a software company specializing in AI-powered solutions for the manufacturing industry, including additive manufacturing, and welding. The company just announced that it has raised over $40M in a Series A funding round led by Fortino Capital, a leading B2B software investor, PMV (Flemish investment fund), and Sandvik. The financing will be used to further develop the Oqton platform, while expanding commercial partnerships in multiple domains and verticals.
The Oqton platform is an end-to-end production platform that connects manufacturing software and hardware. In recent years, a growing number of AM users have needed to find good workflow management software solutions to plan, monitor and control their production. Each software solution is slightly different from the next, focusing on different aspects of the puzzle. Oqton’s platform combines several capabilities, from typical PLM (Product Lifecycle Management) and MES (Manufacturing Execution System) tools, to CAD and CAM solutions, into a single platform. The aim has been to give users the ability to automatically eliminate repetitive tasks, access technologies remotely and across multiple sites, and optimize production planning to improve utilization and quality.
Therefore, a user is able to design, using integrated techniques such as topology optimization or lattice generation, prepare build (automatic orientation, support structures, toolpath, nesting, etc.) and simulate the model before sending it to production, whilst at the same time being able to overlook many orders or print jobs by scheduling, monitoring, analyzing, tracing, finishing, inspecting, and certifying parts; truly fulfilling the purpose of an end-to-end production platform.
In order to automate as many steps as possible, the company is using AI, whose role has also changed over the years. Today, artificial intelligence is increasingly being used to optimize production. In fact, AI algorithms enable the system to continuously learn with use, improving production efficiency and quality. Samir Hanna, Co-Founder and Chairman comments: “We can already achieve 100% automation in the dental and jewelry verticals, resulting in 30% overall cost reduction. 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.”
Finally, being fully integrated, users can also link the platform to their traditional technologies, such as CNC, welding, and post-processing machines for a truly end-to-end manufacturing solution, making their processes faster, more adaptable, and more cost-effective. Oqton has already established partnerships with EOS, Sisma, Trumpf, Prodways and Sandvik. You can find more information HERE.
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