With this investment, the startup will accelerate the development and implementation of artificial intelligence on the ‘plant floor’ and supply chains.
SÃO PAULO, April 30, 2024 — Cogtive, a startup that enhances the productivity of Manufacturing industries through IoT technologies, digital twins, and artificial intelligence, receives a R$ 10 million investment from Indicator Capital, the largest early-stage venture capital firm in Latin America specializing in the Internet of Things (IoT). This investment aims to help the company address a significant challenge in the industrial sector: ensuring that factories operate at their maximum capacity by mapping inefficiencies in the production process and delivering tools for optimization.
Most of the seed investment, a modality applied to early-stage expanding startups, will be directed toward product development and commercial expansion. “We want to expand our presence by positioning ourselves as the number 1 solution for productivity gains in Manufacturing, especially for industrial segments such as pharmaceuticals, animal health, cosmetics, food and beverages, paints, and chemicals in Latin America,” says Cogtive CEO, Reginaldo Ribeiro.
Cogtive’s technology maximizes the management capacity of production teams and operational excellence in manufacturing industries of various sizes and levels of maturity. From beginners in the digital journey who do not yet collect data to those with more advanced tools. The solution provided a comprehensive view of the plant floor through data integration, analyzing machine efficiency individually, and ensuring an understanding of all areas of the production flow.
Leadership in Artificial Intelligence
The ability to integrate all stages quickly and ‘plug and play’ is enhanced with the robustness of a generative and discriminative artificial intelligence, named TÆLOR. “With it,” explains Ribeiro, “a production manager will be able to know, in natural language, if they will be able to meet the monthly plan and what actions they need to take for that to happen.” “It’s a milestone in manufacturing history,” he reinforces.
Indicator Capital co-founder Thomas Bittar emphasizes: “Cogtive, through sensors connected to machines, fits perfectly into our Internet of Things 4.0 industry thesis. Embedded in an industrial environment representing almost a quarter of the country’s GDP, the company has enormous potential to be explored in the national market.”
Investment focused on growth and expansion
The startup’s rapid growth – doubling the number of clients in the last 12 months – and the results achieved were determining factors in the investment decision. Indicator Capital will support Cogtive’s team in various business areas through its Building Value Together® methodology.
The connection between Cogtive and Indicator Capital was facilitated by Cubo Itaú. CEO Paulo Costa explains: “Reginaldo already knew about Indicator’s work, had participated in some events, and knew about the potential and synergy. So, during an event our hub promoted, there was a conversation, and everything progressed.”
SOURCE Cogtive
