Flexciton has raised £2.5m in venture capital funding, in a round led by Backed VC, with JOIN Capital and Entrepreneur First also participating.
Mathematically, planning and scheduling the next three days production in a typical manufacturing plant presents many options. Flexciton uses artificial intelligence to optimise the way manufacturers plan and schedule multi-step production lines, which is an incredibly complex task for all manufacturers.
Currently most of the day-to-day planning and scheduling is done by a person, yet the sheer complexity of the problem makes it impossible to find efficient solutions and is very slow. As a result, manufacturers are running their facilities inefficiently – and are sometimes unaware of the true extent of capacity they have available if planned optimally. Flexciton’s optimisation technology makes production decisions in minutes (30x faster than current methods) and can confidently bring more than 10% efficiency gains to manufacturing sites of all shapes and sizes.
CEO and Cofounder of Flexciton, Jamie Potter, said: “I’m really excited to have closed this round because it represents the tremendous progress we have made here at Flexciton, and the incredible trajectory we are on.
“Over the past year we’ve experienced extremely high demand for our technology, and our clients include some of the most advanced manufacturers in the world. This has only been possible because we have built a truly world class team and our technology is cutting edge. We are looking to rapidly hire talented people to grow our team, so we can deliver our product to market even faster.”