Darwin Ventures leads $5.6m series A of enterprise AI firm

Profet AI, a manufacturing startup based in Taiwan, has raised US$5.6 million in a series A round led by Darwin Ventures.

Profet AI founder Jerry Huang / Photo credit: Profet AI

Other investors in this round include:

• Hive Ventures
• AUO
• SVTI
• Harbinger Venture Capital
• Jensen Capital Management

Profet AI uses artificial intelligence to boost operational efficiency for electronics, textile, semiconductor, and chemical manufacturers.

The startup currently offers two products: AutoML and ready-to-go applications. The former is a no-code development program for creating customized apps, while the latter consists of industry-specific plug-and-play AI programs.

Since it was established in 2018 by Jerry Huang, Profet AI has gained over 100 customers across 12 major industries. Its clients include electronics manufacturer Qisda Corporation, textile company Everest Textile, and optoelectronics solutions provider AUO.

Profet AI also doubled its revenue in 2022, reaching a 1:1 capital efficiency ratio.

The company will use the fresh funds to accelerate the development of new products and update its two flagship offerings. It also has plans to enter new markets including Southeast Asia, Japan, and China.

Valued at US$11.4 billion in 2021, the enterprise AI market is set to expand at a compound annual growth rate of 34.6%.

See also: Decoding a Jungle Ventures-backed SaaS firm’s profitability