Press Release – Luxembourg, May 8, 2018
Wizata has secured its first funding round of € 1.5 million, including €500.000 from the Digital Tech Fund.
With this operation, the artificial intelligence (AI) startup will expand its R&D center in Luxembourg to enhance its innovative solutions for global manufacturing companies and to implement the best AI to production lines. Wizata will also expand its commercial activities with two new locations in Germany and France, to complement the Luxembourg and Belgium offices.
Founders of Wizata chose E-Spring Capital as financial advisor to conduct this operation. Jean-Philippe Hugo, CEO of Wizata said “E-Spring was as a real partner who guided us through the all process with a clear understanding of our strategy to find the best financial partners.”
Wizata provides AI solutions for the manufacturing and natural resources industries, with a strong expertise in the field of metal & mining. Plugged into the heart of complex manufacturing scenarios, Wizata leverages AI and data science to tackle key Industry 4.0 challenges, providing solutions in three primary areas of improvement: Production Process Optimization, Quality Sustainability and Predictive Maintenance. The power of cloud computing and machine learning allows Wizata’s AI solutions to consider an almost infinite number of variables, enabling the company and its clients to explore previously inaccessible new ideas and perspectives. Founded in 2014, the company won the 2017 Microsoft Country Partner of the Year Award for Luxembourg and was named the 2016 Tech Startup of the Year in Luxembourg.