The latest venture capital, seed, pre-seed, and angel deals for NYC startups for 8/5/2020 featuring funding details for ROOM, Smalls, and much more.
Fero Labs’ core mission is to generate value for its industrial customers by empowering them with the modern process improvement tool driven by actionable, white-box machine learning. Fero Labs prides itself in increasing factoriesâ profits by combining their existing data with the latest advances in the field of data science. By utilizing Fero, the automated machine learning software, Fero Labsâ customers understand the root-causes of the problems leading to process and quality issues. Armed with new insights into their production, factories resolve the underlying issues leading to continuous process improvement. Once deployed, Fero constantly adapts to changing factory conditions, delivering insights to a broad set of industries (e.g. automotive, steel, oil & gas, chemicals, utilities) across many scenarios (e.g. planning, decision making, process optimization). The software is intuitive and promotes collaboration across departments.It’s being leveraged by a wide range of users including continuous improvement managers, quality engineers, operators, data scientist and plant managers. Founded by Alp Kucukelbir, Berk Birand, and Pamir Ozbay in 2015, Fero Labs is backed by investors that include Bowery Capital, Henkel Ventures, Sinovation Ventures, DIVC (Deutsche Invest Venture Capital), and Jonty Kelt and is headquartered in New York.