PR99387

TAIPEI, Jan. 5, 2023 /PRNewswire=KYODO JBN/ --

Profet AI (https://www.profetai.com/?lang=en), a Taiwan-based developer of auto

machine learning solutions, has raised US$5.6 million in a Series A funding

round led by Darwin Ventures.  Existing investors Hive Ventures, AUO and SVTI

also participated in the round, joined by Harbinger Venture Capital, and

Jensen-Capital Management. Profet AI will use this funding to accelerate its

overseas expansion into Japan, Southeast Asia and China, further develop its

AutoML Virtual Data Scientist Platform

(https://www.profetai.com/automl?lang=en ) and Ready To Go Applications

(https://www.profetai.com/ready-to-go-applications?lang=en) and accelerate new

product development.

Enterprise AI is a significant enabler of corporate digitalization worldwide.

The market is projected to grow globally at a compound annual growth rate

(CAGR) of 34.6 percent from 2022 to 2030[1] as more enterprises employ AI and

machine learning tools[2] to drive predictive algorithms and applications for

operational optimization. The Asia Pacific currently reports the highest growth

rate[3] in the enterprise AI market, unveiling market opportunities that Profet

AI seeks through its eventual overseas expansion.

"Profet AI is designed for rapid model development and deployment to deliver

instant time to value for enterprises around the world. Our solutions have been

very well-received in Taiwan, giving us confidence that we can deliver value to

more enterprises in other markets – beginning with Japan, Southeast Asia, and

China. We will be looking at establishing joint ventures with strong partners

in overseas markets to ensure the right product-market fit for each location,

and we look forward to supporting more companies in leveraging the power of

machine learning in the coming year," said Jerry Huang, Founder & CEO of Profet

AI.

Founded in 2018, Profet AI provides auto machine learning solutions for

semiconductor, electronics, chemicals and textile manufacturers to boost their

operational efficiencies with the power of artificial intelligence (AI). The

platform has two flagship solutions: Profet AI's AutoML Virtual Data Scientist

Platform, a no-code development program powered by its AutoML engine that

enables users to rapidly design and develop enterprise AI applications for

their everyday processes; and Ready To Go Applications, which is built on

Profet AI's enterprise AI platform and is a library of tried and tested,

industry specific "Plug & Play" AI applications ready to be deployed and

hyper-scaled in any public cloud or on-premises environment.

"In today's digital age, it is crucial that enterprises adopt the best tech

solutions to optimize their operational growth and avert digital transformation

challenges. Profet AI has established an impressive track record of

fast-tracking enterprise AI adoption via their plug-and-play AI applications,

which helps enterprises optimize their productivity and gain a competitive

advantage. The company has come a long way since we began supporting them, and

we look forward to its next stage of growth," said Yan Lee, Founder and

Managing Partner, Hive Ventures.

"Moving forward, companies in the manufacturing sector must digitalise their

operations to ensure success and continuity. Profet AI's AutoML Virtual Data

Scientist Platform enables this digital transformation as it enables companies

to rapidly develop and deploy Industrial AI applications, resulting in

maximised efficiency through streamlines operations," said Kay Lin, Partner at

Darwin Venture. "We have high hopes for Profet AI's contributions to the

manufacturing industry potential and will leverage our extensive experience in

the semiconductor and electronics sectors to actively support them in market

development.".

"Profet AI's no-code AutoML platform democratises AI for the manufacturing

industry by improving accessibility of machine learning capabilities for people

who may not have the necessary expertise in coding. Furthermore, with talent

attraction being a huge pain point in the industry, Profet AI's no-code AutoML

platform is the perfect solution for companies to retain their domain know-how

and tackle talent shortages. As such, we are excited to join forces with Profet

AI to accelerate the development of smart factories powered by AI and machine

learning (ML) - powered technologies," said TC Chou, President of Harbinger

Venture Capital.

Since its establishment, Profet AI has been trusted by leading brands in

various manufacturing industries and has accumulated more than 100 customers

across 12 major industries, successfully assisting world-renowned companies

such as ASE Inc., Qisda Corporation, Everest Textile, WUS Printed Circuit,

Symbio Inc., AUO, and Cheng Shin Rubber etc., to achieve AI-empowered core

manufacturing competitiveness.

Profet AI doubled its revenue in 2022, demonstrating strong growth with a

capital efficiency ratio of over 1:1. The firm was also recently selected as a

representative company in the Data Science and Machine Learning (DSML) category

in the 2022 Gartner(R) Market Guide for Artificial Intelligence Startups in

Greater China, a leading international IT research and advisory firm. In the

near future, the firm will be concentrating on product development and overseas

expansion as it furthers its mission of empowering more enterprises by helping

them rapidly adopt, deploy, and scale Industrial AI solutions for optimal

operational efficiency.

About Profet AI

Profet AI is a manufacturing auto machine learning software company that

provides an end-to-end no-code AutoML platform and on-demand AI application

knowledge base to enable industry sectors or IT professionals to quickly build

high-quality predictive models and rapidly deploy AI applications to solve

daily production and digitization challenges. EMS, Semi-OSAT, PCB, IC design

houses, display panel and material solution providers.For more information,

visit https://www.profetai.com/?lang=en

[1]

https://www.grandviewresearch.com/industry-analysis/enterprise-artificial-intelligence-market-report

[2]

https://www.mordorintelligence.com/industry-reports/automated-machine-learning-market

[3] https://www.mordorintelligence.com/industry-reports/enterprise-ai-market

SOURCE: Profet AI

Image Attachments Links:

   Link: http://asianetnews.net/view-attachment?attach-id=436925

   Caption: (Left) Profet AI Co-founders Foster Lin (Profet AI CTO), Jerry Huang (Profet AI

CEO), Max Chen (Profet AI CRO); (Right) Profet AI all staff, in 2023, will

actively recruit international talents to accelerate the expansion of overseas

markets.