Kitchener, a Canada-based provider of analytics solutions that leverage machine learning and artificial intelligence (ML/AI) to turn product data into actionable insights, Acerta Analytics raised USD 8 million in recent funding. The financing took place on November 22, 2022. BDC Capital’s Industrial Innovation and Thrive Venture Funds led the funding for the firm. Meanwhile, OMERS Ventures and StandUp Ventures joined in the funding.
Purpose of financing for Acerta Analytics
With the latest financing, the company intends to expand its customer base further in North America and Europe.
Meanwhile, it seeks to strengthen ties with leading OEMs and automotive suppliers.
What the Acerta Analytics’s founder has to say
Greta Cutulenco, CEO and co-founder of Acerta, said, “Automotive manufacturers are facing increasing challenges as the industry moves towards electrification with more sophisticated sensors and electronics in every vehicle model. Acerta provides a platform that manufacturers can leverage to ensure they’re delivering high-quality products to market and maintaining brand reputation.”
Cutulenco further added, “By applying our advanced analytics on their complex data, automotive suppliers and OEMs can reduce scrap in their plants, thereby raising margins and increasing throughput. We help them achieve higher operational efficiency so they can make better day-to-day decisions. Manufacturing issues contribute to approximately one-third of all early in-field vehicle breakdowns, but they are especially problematic for new EVs. Given the number of costly recalls and subsequent brand damage that EV makers are seeing, companies are investing in new digitalized production lines that are poised for the value that Acerta provides. This fundraise will help us add even more value to our core platform, LinePulse. We plan to expand our team to ensure we put our next-gen solution into the hands of more manufacturers.”
What the investors have to add
Joseph Regan, Managing Partner, Industrial Innovation Venture Fund at BDC Capital, said, “Acerta’s solutions drive significant improvement in manufacturing quality. We’re thrilled to support a company with such an inspiring vision for bringing AI and advanced data analytics into precision manufacturing. The time is right for this innovation, and we are very confident that this team will deliver.”
In addition, Michelle Scarborough, Managing Partner, Thrive Venture Fund at BDC Capital, said, “We are excited to support Greta and the Acerta team in their next phases of growth. The company’s suite of SaaS solutions for precision manufacturing is already transforming the automotive and transportation industries and receiving strong market validation. We know that there is a lot more to come.”
About the company
In Feb 2017, Founders Greta Cutulenco, Jean-Christophe Petkovich, and Sebastian Fischmeister launched Acerta Analytics. Acerta currently operates in Canada, the United States, Europe and Japan. Acerta helps automakers like Nissan and suppliers of complex vehicle parts such as Dana dramatically improve quality in their manufacturing processes and support early defect detection, making them more efficient, helping them reduce scrap and rework and avoiding defective shipping parts that lead to costly recalls and brand damage.
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