LOVC co-leads Tristar AI’s seed round
Las Olas Venture Capital & TenOneTen Ventures co-lead the seed round to fuel Tristar AI’s growth engine.
FORT LAUDERDALE, FL, UNITED STATES, June 5, 2024 /EINPresswire.com/ — Tristar AI, the world’s most advanced computer vision AI system that tracks when things go wrong in production, quality, and maintenance, announced today that it has closed $3.15MM million in seed funding. Las Olas Venture Capital (LOVC) and TenOneTen Ventures co-led the seed funding round, with participation from Ford Street Ventures, Nextview Ventures, SNR 5, Trust Ventures, and Seraph Partners.
Tristar AI has marked an exceptional year by significantly enhancing factory operations across the plastics and automotive industries. In its first operational year, Tristar AI’s technology optimized production lines at over 30 facilities nationwide, leading to a notable reduction in defects and unplanned downtime.
Leveraging state-of-the-art AI and computer vision technology, Tristar AI’s systems monitor and analyze human motions in real time, identifying potential errors and anomalies that could lead to costly production delays. This revolutionary approach has allowed Tristar to deliver actionable insights and immediate alerts to operators and team leaders, thereby averting substantial financial losses associated with production errors.
“Tristar AI is set to redefine manufacturing efficiency with its cutting-edge AI-powered computer vision technology,” says Mark Volchek, Founding Partner at Las Olas Venture Capital. “Their innovative approach to real-time error detection and operational optimization positions them as a transformative force in the industry, significantly reducing defects and unplanned downtime while enhancing overall productivity.”
Tristar AI’s commitment to innovation is evident in its ability to swiftly deploy and scale accurate models, setting it apart from other market solutions that often require extensive manual implementation and consultation. Salem Karani, co-founder and CEO of Tristar AI, emphasizes the significance of their technology in the manufacturing sector: “Our AI-driven systems are not just tools, but transformational forces that empower operators to achieve unprecedented levels of precision and efficiency.”
Tristar AI’s systems are specifically designed to integrate seamlessly with existing Manufacturing Execution Systems (MES) and Enterprise Resource Planning (ERP) systems, streamlining the adoption process for manufacturers. Their technology’s adaptability makes it suitable for a broad range of manufacturing environments, enhancing its attractiveness to industry leaders looking to reduce errors and increase productivity.
Tristar AI plans to expand its technological capabilities and market reach. With a strong foundation laid in its first year, Tristar AI is set to continue its trajectory of growth and innovation, driving further advancements in the manufacturing industry’s approach to preventative maintenance and operational efficiency.
About LOVC:
LOVC is an early-stage venture fund investing in B2B software companies in the Eastern US. Founded in 2016 by former entrepreneurs and headquartered in Florida, LOVC is now investing out of its $50M Fund II and typically leads $3-7M rounds with $1.5-3.5M checks in businesses with early commercial signals of product-market fit (typically $200K+ ARR). Our low-frequency and high-conviction investment approach (3-5 companies per year) allows us to be deeply collaborative and hands-on with the founders we partner with. For more information, visit www.lasolasvc.com.
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media@lasolasvc.com
Las Olas Venture Capital (LOVC)
Zach Rubin
Las Olas Venture Capital (LOVC)
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