Commenting on the investments, Rajesh Iyengar, Founder and CEO, said, “The automotive industry has shown an impressive adoption of manufacturing technologies. The manufacturers are not hesitant to deploy technology or a solution that they know will bring them high ROI. For instance, our AI-backed visual inspection solution has made the inspection of the production lines much more efficient than the traditional vision systems. The manufacturers have seen a difference with our solution.”
In a statement, Ritika Nigam, Co-founder and CTO, added, “The manufacturers see that microscopic surface defects were detected with precision and accuracy within the established cycle times. I certainly believe the industry is now more than ready to invest in manufacturing technologies. The future of smart automotive manufacturing is very promising.”
“Quality inspection is a critical challenge faced by manufacturers across the industries and Lincode is leveraging AI/ML to revolutionize precision manufacturing,” said Shekhar Kirani from .
The automotive industry is witnessing a bullish trend and has been adopting smart manufacturing to a great extent. The industry is making large investments in smart technologies such as AI, IIoT, Automation, Big data, 5G, etc. to streamline and scale up the automotive manufacturing process for higher efficiency and production capacity.
In a statement, K C Chea of Tech Coast Angels, San Diego said, “The Lincode computer vision technology is promising for the automotive industry and manufacturing in general. The solution will deliver higher quality products at a lower cost.”
“We believe in backing entrepreneurs who are looking to transform industries and even creating new ones leveraging technologies like AI,” said Robbie Dutta of Nurture Ventures, in a statememnt.
In a statement, Raj Snehil Juneja, Managing Partner of Disruptors Capital said, “Lincode’s competitive edge along with the founders’ execution capabilities makes us believe they are disruptors poised for large scale success.”
By the end of 2022, automotive manufacturers expect that some 24% of their plants will be smart factories, and 49% of automakers have already invested more than $250 million in smart factories. However, only a few automotive manufacturers have translated this enthusiasm into real progress – some 42% of smart factory initiatives are struggling and the digital maturity of their manufacturing operations is below par.
Yashwanth Hemraj, Founding Partner of Arka Venture Labs, commented, “Our investment in Lincode aligns with our vision of backing game-changing cross-border vertical solutions that are built with three main components – AI, workflow automation and datasets.”
The automotive sector has seen growth in its sales and increased adoption of critical manufacturing technologies, which is an important driving factor. This has led to the delivering of best-in-class quality of products that are available to the market in keeping with the demand due to better production capacity.