TLDR:
- INX International Ink Co. has invested in Oden Technologies in a Series B round of venture funding.
- This is the fifth company INX has invested in since establishing a $50 million Venture Capital investment program in 2022.
INX International Ink Co. has participated in a $28.5 million Series B round of venture funding for Oden Technologies, led by Nordstjernan Growth. Oden Technologies is a leading AI-powered analytics provider for manufacturing companies and is the fifth company INX has invested in since establishing a $50M Venture Capital investment program in 2022. The company’s AI solutions combine best-in-class data aggregation and organization to deliver prescriptive analytics and automation, helping manufacturers optimize production for throughput, quality, profitability, and sustainability. INX is already using new Oden products such as the Data Engine, Process Analytics, and Process AI to increase efficiencies and capacity. An Oden Technologies’ pilot program with INX produced impressive results, including a 13% improvement in asset availability, a 71% reduction in changeover times, and a 40%-plus increase in line speed.
INX is supporting Oden with product roadmap evaluation and piloting new offerings. Willem Sundblad, Oden’s co-founder and CEO, states, “INX has been a great customer and partner to Oden. Our shared vision of empowering the front-line to make production improvements through data has helped us improve our offerings in several ways. We are thrilled to have INX on our cap table as an investor, and their support reinforces the value of Oden’s solutions for enterprise manufacturing companies.” The solutions are scalable from a single line to an enterprise-wide deployment.
“We view Oden Technologies as a platform for enabling industry 4.0-level efficiencies and quality,” states Shane Bertsch, INX senior VP of Innovation and Strategy. “INX believes that machine learning and AI can contribute to several aspects of our business. It will augment our resources to become faster and more efficient in driving innovation, and deliver more value to INX customers.”
Jim Kochanny, INX COO, comments, “We learned Oden provides significant value in real-time manufacturing data visibility. We are enthusiastic to begin testing additional value-added features related to machine learning and AI, which can help INX further improve manufacturing efficiencies. With Oden being an expert and thought leader in this space for manufacturing, we look forward to building our ecosystem and learning more.”
