Hence, an innovative SME that innovates in the field of smart manufacturing with its Production Copilot, reports that it has closed the first tranche of a seed funding round, raising €525,000. The operation was reserved for Open Venture, a venture capital vehicle with a vocation for industrial innovation, created within the Open Advisory ecosystem and ELIS Group, a consortium of over 140 companies pursuing open innovation, training and sustainable development objectives. Open Venture joins Considi società benefit, a company specialising in consultancy for industrial operations, in its capital. Representing the incoming fund on the board of directors of Quindi will be Virginia Filippi, president of Open Venture, Open Advisory and ELIS.
Starting in 2022, Quindi has developed the first Production Copilot, an advanced AI solution that integrates all data from machines, orders and people to optimise production flows. Thanks to the combined use of proprietary data and algorithms, Quindi allows production realities to know in real time every salient event, such as a machine anomaly or the unexpected absence of an employee, and to act proactively, through conversational interfaces: staff receive operational indications to overcome critical issues, while production managers are able to re-schedule production in real time, choosing between different production scenarios proposed by Quindi. By reducing wastage of time, energy and resources, Quindi not only guarantees improved operational efficiency, but also moves companies towards more sustainable and human-centred production along the lines of Industry 5.0. With several dozen active implementations in as many manufacturing plants, including industry champions Bianchi Biciclette and EPTA Group, Quindi is preparing to become a reference for the digital transformation of manufacturing companies.
“The partnership between Hence and Open Venture came about spontaneously, starting with an acquaintance in the market that produced a mutual and natural rapprochement. Quindi looks for three fundamental characteristics in a partner: competence, dialogue and vision. Open Venture’s professionals immediately demonstrated their capabilities, and the conversation with them was always aimed at creating value. More than anything else, Open Venture shares our vision and ambition, to empower and at the same time agile manufacturing companies through technology, remembering that at the centre, besides economic performance, are people and the environment,’ Fabio Oscari, CEO and co-founder of Hence, commented in a note.
The funds raised will be used to support Hence’s growth, through product development, research into advanced algorithms and the enhancement of deployment, data collection and copiloting capabilities through AI, and by enabling investments in the marketing and internationalisation of the solution, consolidating its positioning in Italy and launching activities to enter the European and US markets. Following the two strategic directions, the funds will contribute to the expansion of the team, which will double by 2025. It therefore brings together manufacturing and IT specialists with decades of experience ranging from mechatronics to AI, from academia to the shop floor. The founding partners Fabio Oscari (CEO), Simone Minto (CTO), Luca Barbazza (COO) and Alberto Frison (head of growth), pictured here, have combined their solid academic and professional skills, gained in international contexts, in So. Guided by a shared vision, they aspire to radically transform production environments through technological innovation.
“So it is the answer to the challenges of modern manufacturing, helping companies transform data into concrete actions to achieve more agile and resilient processes. The collaboration with Open Venture is a concrete help for the growth of our solution. There is not only the economic aspect, but also the possibility to optimise our business model and to face together the market challenges that await So, thanks to the support and expertise of a group of managers with many years of apex experience,’ adds Oscari.
“By streamlining processes by rethinking instructions based on clear and orderly data, companies can reduce waste. In this sense, becoming a partner of Quindi allows us to make an impactful contribution, with a focus on organisations and people, but also with energy savings that translate into a positive impact on the environment,” says Virginia Filippi, president of Open Venture.
“Innovation is in Considi’s DNA, and Quindi is tangible proof of this,” emphasises Gianni Dal Pozzo, founder and CEO of Considi. “Ours is a partnership that has proven its success on the market: we draw on our respective competences to enable the transition of manufacturing companies towards Industry 5.0, putting people at the centre of processes and technology at their service. The entry of Open Venture in the capital of Quindi represents a further step in our joint path to become the point of reference in technology consulting Made in Italy, supporting Italian companies to seize the opportunities offered by digital transformation”.
It is therefore already working to close a second tranche of the round by 2025, with the aim of raising further resources to expand its impact in the smart manufacturing sector and promote its role as a technology frontrunner at national and international level.
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