Daedalus raises €19.4M to build world’s most advanced factories
Daedalus, a technology company building the world’s most advanced factories using AI, announced that it has secured $21M (approximately €19.4M) in a Series A round of funding.
The funding round was led by NGP Capital, with further participation from its existing investors, including Addition and Khosla Ventures. The German company will use the funds to develop its proprietary Manufacturing AI Platform and scale its production facilities in Germany.
The company uses its proprietary Manufacturing AI Platform to automate the entire manufacturing process, from quoting to delivery, for high-precision and high-mix parts. Daedalus’ production facilities utilise software to control and holistically optimise shop floor operations. Additionally, AI automates manual tasks involved in production.