Khenda Secures $1 Million to Boost AI Manufacturing Efficiency
Khenda, a Turkish startup specializing in AI-based video analytics for manufacturing efficiency, has secured a significant seed investment to propel its growth and expansion into new markets. The company, which focuses on enhancing production line efficiency through advanced video analysis, received $1 million in funding from Diffusion Capital Partners (DCP) and Koc Group Companies First Private Venture Capital Investment Fund.
Khenda’s innovative platform leverages artificial intelligence to digitize continuous improvement activities in production, automatically analyzing production processes through video to identify areas for improvement. This technology, which is patent-pending, allows for AI training with minimal data, eliminating the need for extensive hardware setup or data collection, which can be time-consuming and costly. Engineers can quickly utilize Khenda’s platform to pinpoint production issues, reduce waste, and increase process efficiency.
As a graduate of the KWORKS Acceleration Program and the winner of the K-Start-up Grand Challenge 2021, one of the world’s most prestigious startup competitions in South Korea, Khenda has demonstrated its potential for significant impact in the manufacturing sector. The company’s victory in the K-Start-up Grand Challenge, where it competed against over 2,500 global startups and secured a $120,000 cash award, underscores its innovative approach to improving manufacturing efficiency.
Cagkan Ekici, responsible for Khenda’s technology, expressed his enthusiasm for the investment, stating, “We are thrilled to receive this important investment from DCP and Koc Group’s VC fund. Manufacturing facilities face numerous challenges in ensuring efficiency and quality on their production lines, and we believe our AI-powered video analytics platform can make a real difference. This funding will help us continue to advance our technology and apply it at more manufacturing sites around the world.”
Aykan Ekici, co-founder of Khenda’s operations, echoed this sentiment, saying, “We are excited to receive this investment from DCP and Koc Group’s VC fund. The support of such a prestigious company in the Fortune 500 will give us great momentum, especially in the automotive and white goods sectors. This investment will help us realize our vision of a smarter and more efficient manufacturing industry.”
Alper Karagoz from DCP VC emphasized the potential of Khenda’s technology, stating, “We are excited to support Khenda’s growth and innovative approaches to improving manufacturing facilities. We believe that Khenda’s technology will accelerate the transition to safer, quality, and efficient production. The team has the vision and expertise to make a real impact in this area, and we look forward to seeing their progress.”
The investment from DCP VC and Koc Group’s VC fund will enable Khenda to accelerate its growth and expand its reach into more markets. The company is already working with leading manufacturing companies in the US, Europe, and Asia and aims to further expand its operations. This funding marks a significant milestone for Khenda, positioning it for continued success in revolutionizing manufacturing efficiency through AI-powered video analytics.