Sheffield-based AI startup, Productive Machines, has successfully raised £2.2 million in seed funding to revolutionize the manufacturing industry with its advanced machine tool process optimization technology. Led by UK Innovation & Science Seed Fund (UKI2S), the funding round also saw participation from NPIF–Mercia Equity Finance, ACT Venture Partners, and Fuel Ventures, in addition, to grant funding from Innovate UK.
Productive Machines, which originated from the esteemed University of Sheffield Advanced Manufacturing Research Centre (AMRC), plans to utilize the funds to further develop and deliver its cutting-edge AI technology as a fully-automated Software-as-a-Service (SaaS) product. The company also aims to expand its team of eight to over 20 members.
Dr. Erdem Ozturk, CEO of Productive Machines, highlighted that the company's goal is to help manufacturers reduce costs, improve quality, and cut carbon emissions. He noted that while manufacturers aspire to achieve these goals, many are deterred by the complexities of software products or the need to hire highly skilled engineers. Productive Machines aims to bridge this gap by making its innovative technology more accessible to manufacturers of all sizes around the world.
With the investment, Productive Machines plans to eliminate the cost and skill barriers to the adoption of its AI technology, which has already shown promising results with major manufacturers, including Renault and MASA Aerospace. The company's computational model uses a digital twin to predict and mitigate the influence of vibrations in metal and composite milling jobs. By determining the best parameters for each machine tool and production run, Productive Machines' technology eliminates the need for time-consuming and costly configuration experiments.
“There are three million machines in the world that would be more accurate, productive and sustainable with our AI.”
- States Dr. Ozturk
He expressed enthusiasm for removing the barriers to adoption and making the significant benefits of their research and innovation accessible to manufacturers worldwide.
In conclusion, Productive Machines' successful seed funding round marks a significant milestone for the Sheffield-based AI startup. With its advanced machine tool process optimization technology, the company is poised to transform the manufacturing industry by making its AI-driven solutions more accessible to manufacturers of all sizes across the globe.