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Today: July 21, 2024
January 9, 2024
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10 Words or Less: Xaba Secures $2M+ in Funding for Expansion

TLDR:

  • Toronto-based AI developer Xaba has raised $2 million in seed extension funding to further develop its cognitive software solution for automating programming and deployment of robotics and CNC machines.
  • The round was led by BDC Capital’s Deep Tech Venture Fund with participation from Hitachi Ventures and existing investor Hazelview Ventures.

Xaba, a Toronto-based developer of an AI-powered cognitive software solution for automating programming and deployment of robotics and CNC machines, has raised $2 million in seed extension funding. The round was led by BDC Capital’s Deep Tech Venture Fund, with participation from Hitachi Ventures and existing investor Hazelview Ventures. Xaba plans to use the funds to expand operations and its development efforts.

The company has two manufacturing platforms: xCognition and xTrude. These platforms use proprietary industrial AI to provide AI-powered cognitive industrial automation, consistency, robustness, and high execution quality. By eliminating the need for constant human supervision, reprogramming, and waste, Xaba’s software can significantly impact the return on investment of major manufacturing and construction processes.

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