CEO Daniel First started Axion Ray in 2021 to provide a unified view of product issues and associated data to various teams within an organization. The company's AI scans messy, unstructured, and disconnected data across various systems to flag emerging recurring product quality issues. Axion Ray has customers in healthcare, consumer electronics, aeronautics, automotive, and industrial equipment, including Boeing and Denso.
Key takeaways:
- Axion Ray, a company that uses AI to predict product failures, has raised $17.5 million in a Series A round, bringing its total raised to $25 million.
- The company plans to use the funding to expand the platform’s capabilities, enter new industries, and grow its workforce.
- Axion Ray's AI-powered platform takes in signals from various sources, including field service reports and sensor readings, and correlates these with geolocation and other data to predict product failures.
- The company was founded by Daniel First, who previously worked in the AI strategy division at McKinsey, and currently has customers in healthcare, consumer electronics, aeronautics, automotive, and industrial equipment.