Tesla giants Industrial Next raises $12M to automate EV production – Meczyki.Net

Elon Musk cares about himself passion for manufacturing, Over the years, Tesla has gradually gained recognition in the manufacturing world by improving its production quality. Now the two Tesla giants want to share their smart factory knowledge with other automakers through a nascent startup.

Industrial Next, founded by allen panwho was the head of Tesla’s autonomous factory in Fremont, and Lucas PankouJoe, who was a lead electrical architect behind the Models X, Y and 3, aims to bring the latest production technologies to electric vehicle suppliers around the world, an approach that has helped win investor support recently.

The startup just raised $12 million in a pre-Series A round led by Lenovo Capital, the venture capital vehicle of Chinese computer giant Lenovo, which owns IBM’s PC business. Xiaomi’s strategic investment arm and AlphaX Partners also participated in the financing round.

Notably, Industrial Next has been through both Y Combinator in the US and YC China’s legacy MiraclePlus, a move that has facilitated its global expansion.

In 2019, YC announced the closure of its China unit, just a year after the incubator entered the country. Lu Qi, the renowned AI scientist hired to lead YC China, later founded MiraclePlus, which was designed to operate through an independent fund and operations team, but still with YC Will enjoy Lu’s relationship.

Industrial Next’s double-dipping appears to be a result of that arrangement. According to a person with knowledge of the matter, the startup joined YC following a suggestion from MiraclePlus, which could “use YC as a launching pad” to broaden its customer base in the US.

Some manufacturers have already shown interest in Industrial Next. The startup sells a mix of modular equipment, customized software and follow-on service, which means customers can buy one for a production unit or the entire factory.

More specifically, it is equipping automakers with smart factory capabilities, such as sensing devices that run on edge computing, algorithms that can detect defects during production rather than in the fact, and a data framework that enables timely Can inform designers about production progress.

These elements as a whole are supposed to give suppliers more agility at a time when increased competition among EV upstarts is forcing factories to shorten production cycles, adapt to changing demand, and ramp up production capacity.

According to its pitch script at MiraclePlus’s Demo Day, seen by Meczyki.Net, the startup clearly sees Tesla as a benchmark because it told investors that it aims to “improve manufacturing technologies that have been tested and proven by Tesla.” and transform the industry”. It is in discussions for purchase with EV upstarts Rivian and NIO, as well as smart hardware OEMs Huaqin and WiseTech, the pitch noted.