AI Startup Founded by Ex-OpenAI Engineer Raises $21 Million
Artificial intelligence (AI) startup Daedalus, founded by former OpenAI engineer Jonas Schneider, has secured $21 million in funding to expand its production in Germany. The investment comes from notable investors including NGP Capital, Addition, and Khosla Ventures. Daedalus aims to revolutionize the manufacturing process for high-precision and high-mix parts using its AI platform.
The software developed by Daedalus is based on AI models such as OpenAI’s ChatGPT. It enables the automation of the entire manufacturing process, from quoting to delivery, with minimal human intervention. This innovative technology is applicable to various industries, ranging from semiconductors to defense.
Since its launch in late 2022, ChatGPT has gained worldwide interest in generative AI applications. Initially utilized in sectors like cloud computing and customer service, it is now being increasingly adopted in traditional industrial areas.
Daedalus boasts a customer base of over 100 companies, ranging from million-dollar enterprises to multi-billion dollar corporations. These customers operate across sectors that heavily rely on high-performance machinery. The market for precision parts is projected to grow significantly, with estimates indicating it will reach $388 billion by 2030, compared to $186 billion in 2022.
Founder and CEO Jonas Schneider highlighted the fragmented nature of the precision parts market. With thousands of manufacturers, around 80% of them have fewer than 10 employees. However, these manufacturers play a crucial role in supplying critical parts to industries such as semiconductors, medical devices, and aerospace.
Daedalus aims to address this fragmentation by leveraging its AI platform, thereby streamlining the manufacturing process and improving efficiency. By automating processes from quoting to delivery, the company aims to deliver quick and accurate results, saving valuable time and resources for its customers.
In conclusion, Daedalus’s recent funding round will enable the company to expand its production facilities in Germany and further develop its AI platform for automating precision part manufacturing. As the demand for high-precision parts continues to grow, Daedalus is well-positioned to cater to the needs of various industries and provide innovative solutions that leverage the power of AI technology.
