$4.6M Series A Funding for Falkonry
Falkonry, Inc., a provider of operational machine learning for Global 2000 industrial companies, raised $4.6 million in a Series A funding round led by Presidio Ventures, the early stage venture capital arm of Sumitomo Corporation. Fortive Corporation, a diversified industrial growth company, Basis Set Ventures, Polaris Partners, Start Smart Labs, and Zetta Venture Partners also participated in the round, which brings the total funding raised by Falkonry to $10.9 million.
According to the company, industry leaders such as Toyota and EDP have adopted Falkonry’s machine learning system, Falkonry LRS, which enables operations teams to discover patterns hidden in their existing operations data, apply predictive analytics, and receive actionable insights without the need for data scientists. This new operational machine learning approach is designed to deliver improvements in industrial throughput, uptime, yield, and product quality. Highlighting its growing momentum in the market, Falkonry was recently recognized as a Gartner Cool Vendor and an IDC Innovator.