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Venture Capital News: Elementary Raises $30M Series B Financing

LOS ANGELES, CCA, Elementary has closed $30 million in Series B funding to support customer demand.
Elementary, a fast-growing startup that has built an AI machine vision platform for quality and inspection in manufacturing, has closed $30M in Series B funding to support customer demand. Following the new round of capital, the company is now poised to aggressively scale its solution worldwide with existing and new customers. Given the current manufacturing market dynamics, the demand for Elementary's platform has been overwhelming. As the world has shifted to requiring automated solutions to address labor constraints, Elementary's customers have needed automated inspection solutions to keep pace with their quality goals. Unlike manual inspection, Elementary's platform enables customers to inspect 100% of their produced goods and is capable of inspecting parts and assemblies that were previously impossible to inspect, in a highly repeatable and scalable way.

The $30M Series B investment was led by Tiger Global and joined by existing investors including Threshold Ventures, Fika Ventures, Fathom Capital, Riot VC, and Toyota Ventures.

Elementary is a multidisciplinary group of innovators who create new paradigms for solving manufacturing problems using visual AI. Their full stack solution captures data and generates insights to improve manufacturing processes. Accessible machine learning, traceability, and cloud, bring Industry 4.0 directly to the factory floor.
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