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Acerta's platform uses artificial intelligence to help automakers leverage their data for vehicle assembly or on-road performance insights.
FREMONT, CA: Acerta Analytics, the industry leader in Automotive Intelligence, raised USD $7 million (CAD $9 million) in Series A funding round led by OMERS Ventures, with additional participation from M12 – Microsoft's venture fund, StandUp Ventures, Radical Ventures, EDC, and Techstars. The newly raised capital will allow Acerta to launch into new markets, expand its team, and extend its platform's capabilities to generate insights into automotive production and vehicle data.
"Every automotive engineer has dealt with issues during assembly or testing, but few have the ability to use their production data to predict when and where those issues will occur and prevent them," said Greta Cutulenco, CEO and Co-Founder of Acerta. "That's why we've focused on providing predictive analytics to our customers to help them ensure vehicle quality, safety, and reliability."
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These improvements are now even more critical in light of the COVID-19 pandemic. Closures of assembly plants and disruptions in the supply chain have placed new pressures on automakers to digitize their processes, find new ways to reduce costs and increase production efficiency. As a result, Acerta has experienced an increase in demand for its solutions.
"Beyond digitization, the global pandemic has also forced vehicle manufacturers to focus on cost containment," Cutulenco continued. "By identifying the earliest indicators of future product failures, our platforms are helping automakers reduce their scrap and rework rates and increase first time yield."
Acerta currently operates in Canada and the United States in North America and Europe, and Japan, with plans to expand further into the European and Japanese markets within the next year. This new capital will also help Acerta ramp up sales and marketing operations while also scaling the business to get the company's platform into automakers' hands everywhere.
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