Cybord, the visual AI solution ensuring electronic component quality, authenticity, and traceability, announced that it has secured $8.7 million in Series A funding led by Capri Ventures, with participation from Ocean Azul Partners and existing investors IL Ventures and NextLeap Ventures, among other new and current investors. Partnered with leading manufacturers including Flex and Siemens, Cybord is integrated into over 60 manufacturing lines worldwide, inspecting millions of electronic components daily. This newest funding will be used to accelerate the company’s growth and further global distribution of its transformative solution.
Using deep learning and AI algorithms, Cybord analyzes and inspects 100% of electronic components on PCBA powering everything from electric vehicles to data centers. The Cybord solution addresses the industry’s critical need to confront electronic component quality to prevent damaging product condition, consumer trust, and manufacturers’ bottom lines. Until now, electronic component quality and security have largely been overlooked, leading to increased occurrences of defects and costly recalls, which hit a seven-year high in 2023. This unreliable state of electronic component quality results in time-consuming and costly reworking and scrapping of electronic boards and products, the allocation of valuable capital in anticipation of warranty claims, and costly recalls worth millions to billions of dollars in lost profits.
With a database of over four billion components and counting, Cybord’s machine learning model represents the cutting-edge of AI in electronics manufacturing. During placement on the assembly line, the visual AI solution prevents defective, damaged, and counterfeit components from being assembled onto PCBA in real time with 99.9% accuracy. In doing so, Cybord ensures component quality, authenticity, and forensic traceability at the component level to provide unparalleled reliability and visibility for EMSs and OEMs, leading to higher quality electronic products, improved manufacturing efficiency, reduced costs, and fewer recalls.
“We are honored to have secured this round of financing from trusted partners and investors who understand the necessity of the Cybord mission,” said Oshri Cohen, CEO of Cybord. “With a variety of industries increasingly dependent on electronic components, it has never been more important to ensure that they are of the highest quality. The Cybord solution has been validated time and time again by our leading global partners, and these funds will allow us to scale faster and bring our comprehensive AI-powered solution to more companies worldwide, delivering on our mission to ensure only the best electronic products.”
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“Investing in Cybord aligns with our commitment to supporting companies that drive innovation and create lasting impact,” said Adalio Sanchez, Partner at Capri Ventures. “Cybord is the only solution ensuring electronic component quality, making them a revolutionary leader in this rapidly evolving market. We are proud to partner with them and witness their continued traction among stakeholders across industries – from automotive and aerospace to health and more.”
“From the outset, Cybord has demonstrated a disruptive approach to solving the pressing challenges of component quality, safety, and traceability in today’s sensitive global supply chains,” said Elad Frenkel, Managing Partner at ILVP. “Cybord’s solutions are accelerating the electronics industry, and we are delighted to have played a role in their journey from seed stage to this milestone and look forward to continuing to support their growth.”
“In manufacturing supply chains, it’s critically important to have a competitive edge in both quality and efficiency. Cybord not only affords these advantages, but also provides enhanced security and visibility,” said Renée Ure, former COO and CSCO of Lenovo. “By integrating Cybord’s visual AI solution, manufacturers ensure superior electronic component quality, authenticity, and traceability, which are essential for maintaining high standards and reducing costly recalls.”
Source: PRNewswire
