CB Insights today named Fero Labs to its annual AI 100 ranking, showcasing the 100 most promising private artificial intelligence companies in the world.
"This is the sixth year that CB Insights has recognized the most promising private artificial intelligence companies with the AI 100. This year's cohort spans 13 industries, working on everything from recycling plastic waste to improving hearing aids," said Brian Lee, SVP of CB Insights’ Intelligence Unit. "Last year's AI 100 companies had a remarkable run, raising more than $6 billion, including 20 mega-rounds worth more than $100 million each. We’re excited to watch the companies on this year’s list continue to grow and create products and services that meaningfully impact the world around them.”
“Manufacturing plants across sectors are embracing machine learning technology as a method to boost volume and profitability. However, to fully benefit from the power of machine learning, manufacturers must rely on software solutions that scale to their factories,” Fero Labs CEO Berk Birand said. “Fero’s software predicts problems before anything can go wrong. That means engineers can keep issues from halting production, minimizing not only costs, but also waste and emissions. This recognition by the AI 100 ranking validates our purpose and we’re eager to continue pushing the industrial sector forward."
Utilizing the CB Insights platform, the research team picked 100 private market vendors from a pool of over 7,000 companies, including applicants and nominees. They were chosen based on factors including R&D activity, proprietary Mosaic scores, market potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength, and tech novelty. The research team also reviewed thousands of Analyst Briefings submitted by applicants.
Unlike black-box machine learning that gives recommendations with no context, our factory optimization software is powered by white-box machine learning that enables manufacturers to stay ahead of ever-changing production conditions. With our ntuitive software, engineers can confidently take informed action that gets results without wasting time or resources. Today, we're working with leading global manufacturers to deliver better production results in less time, while keeping sustainability top of mind.