SA国际传媒

Not even the oncoming winter season can cool off artificial intelligence funding.

Manufacturing AI startup is the latest company using the emerging tech to capture investors’ attention, snapping up a $120 million Series C funding led by .

The round also included investment from , and .

The Atlanta-based company鈥檚 AI play is pretty straightforward. It is able to combine hardware, software and AI to help modernize manufacturing maintenance processes. The company 鈥� which describes itself as the 鈥淚ndustrial Copilot鈥� 鈥� addresses the growing concern聽 of industrial maintenance, with unplanned downtime , about $1.4 trillion.

“With an aging workforce and fewer younger workers entering the field, the gap between human expertise and machine understanding widens,鈥� said cofounder and CEO in a . 鈥淭his loss of analog, hands-on knowledge has left industrial operations struggling to maintain efficiency. There is growing momentum for the reshoring of manufacturing in the U.S., as companies seek to reduce dependencies and build more resilient supply chains.”

AI dollars

Of course, Traction is just the latest company using AI to solve real-world problems while also attracting big investment dollars.

More than half of last month鈥檚 $28 billion in global venture funding went to companies in the AI sector 鈥� with AI companies in everything from robotics to marketing to healthcare raking in more than $14 billion.

Founded in 2019, Tractian has raised more than $180 million, . In August 2023, the company closed a $45 million growth capital round led by General Catalyst.

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• Global VC Funding Ticked Up In November Thanks To AI And Billion-Dollar Deals

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