[Funding alert] Karlsruhe-based Daedalus Secures $21 Million in a Series A Round Funding

Friday 9, 2024 | By Startup Rise EU

Karlsruhe-based Daedalus secures $21million in a series A round funding. The company states that the NGP Capital-led investment would be used to scale Daedalus' German production facilities in addition to further developing the company's Manufacturing AI platform.

Karlsruhe-based Daedalus secures $21million in a series A round funding. The company states that the NGP Capital-led investment would be used to scale Daedalus' German production facilities in addition to further developing the company's Manufacturing AI platform.

The manufacturing sector appears to be at a turning point, possibly not unlike a number of other industries that are currently undergoing change. As for pulling manufacturing floor data from the paper and pen period, on the one hand, we have news of firms like SQCDP finding a market fit, and on the other, we have Daedalus.

Read also - Copenhagen-based Pluto.markets Secures €2.4 Million in Funding

Daedalus, which bills itself as “Europe’s most modern contract manufacturer,” is automating manufacturing processes that date back centuries and enabling instantaneous reconfiguration in addition to nearly complete automation.

Daedalus' approach, driven entirely by AI, can automate every step of the production process, starting with quotations and continuing all the way through delivery for high-precision and high-mix products.

Read also - Vilnius-based Axiology Secures €2 Million in Funding

Thanks to optical coordinate measuring machine technologies, Daedalus can source and deliver products at scale and reliability to a variety of industries, including semiconductors, energy, mobility, and pharmaceuticals. Its milling, turning, and surfacing capabilities are combined with a large selection of available materials and quality control measures.

Daedalus founder and CEO Jonas Schneider elaborates: "Imagine factories that possess the collective knowledge and expertise of all engineers and machinists who have ever worked in them, and can produce the most challenging parts with superhuman reliability and 10x efficiency. Daedalus is already making that vision real by revolutionising how we build everything from microchips to critical medical components — unleashing the potential of numerous industries with our AI-powered factories that forge bespoke parts on demand.”

Daedalus may be a part of the issue, but they're also creating obstacles for the solution to be found, given that many shops are frequently staffed by ten people or fewer. These numbers are certain to decline given the chronic labour shortage of machinists and artisanal production processes.

Read also - Stockholm-based MANTLE Raises over €2.8 Million in Funding

About Daedalus

The most cutting-edge precision component factories in the world are being constructed by Daedalus. With a team from OpenAI, Google, SpaceX, and Blue Horizon and $40 million in funding from Khosla Ventures, Addition, NGP Capital, and Y Combinator, they are developing software-defined factories to produce parts for businesses in the machinery, aerospace, semiconductor, energy, and other industries.

Read also - Stockholm-based Myrspoven Secures €5.4 Million in Funding

Recommended Stories for You

story
News

German-based Octomind Secures $4.8 Million in Seed Funding

Startup Rise EU Tuesday 23, 2024

story
News

Dublin-based SynOx Therapeutics Secures $75Million in Series B Round Funding

Startup Rise EU Tuesday 23, 2024

story
News

Paris-based Zefir Secures €11Million in Funding

Startup Rise EU Tuesday 23, 2024

story
News

Helsinki-based HappySignals Secures €12 Million in Funding

Startup Rise EU Tuesday 23, 2024

story
News

Italian-based Lithium Lasers Secures €2 Million in Funding

Startup Rise EU Monday 22, 2024

story
News

[Funding alert] Munich-based Smart Reporting Secures €23 Million in Series C Round Funding

Startup Rise EU Monday 22, 2024