SAN FRANCISCO — Sight Machine, a startup leading the digital transformation of manufacturing, has raised $13.5 million in Series B venture capital. The round is led by Chicago-based Jump Capital and includes GE Ventures, Two Roads Group and Pritzker Group Venture Capital.
“Sight Machine is developing the technology that will bring us closer to the realization of the brilliant factory,” said Karen Kerr, Senior Managing Director of Advanced Manufacturing at GE Ventures, a unit of General Electric. “The ability to effectively manage and analyze manufacturing data will change so many industries, and we are proud to partner with Sight Machine to help grow and commercialize its business.”
“Sight Machine is in the sweet spot, with a very robust solution to the central problem that manufacturers are experiencing today: how to make sense of all their data,” said Lou Rassey, founder and CEO of Two Roads Group. “They have hardened their technology over the last few years working with some very demanding customers. Now they are scaling up with proven technology and a proven business model.” Rassey is a former leader of McKinsey & Co.’s global manufacturing practice, and helped set the strategy for the Digital Manufacturing and Design Innovation Institute, the U.S. national hub for digital industry innovation in Chicago.
“Manufacturing industries are at an inflection point,” said Saurabh Sharma, principal at Jump Capital. “In the past 12 to 18 months, manufacturing CEOs and CIOs have realized they are missing opportunities to drive significant benefit from digitization of manufacturing and have launched strategic initiatives to catch up. Every innovative manufacturer should be looking to partner with a company like Sight Machine to remain competitive.”
Existing investors re-investing in this round include IA Ventures, O’Reilly AlphaTech Ventures, Mercury Fund, Huron River Ventures and Orfin Ventures.
Sight Machine will use the proceeds of the venture round to expand its sales and marketing efforts and continue technology development.