LOS GATOS, Calif.--(BUSINESS WIRE)--Full Speed Automation announced today that it raised $3.2 Million in Seed funding. The round was led by HCVC and included Catapult Ventures, Seedcamp, Serena Capital, Kima Ventures and Diaspora Ventures, as well as Industry Executives such as Bruno Bouygues, CEO of GYS.
The Silicon Valley-based company, founded by Luc Leroy, former head of Core Automation Engineering at Tesla, announced in Oct 2020 the development of VITESSE, the first no-code automated manufacturing platform. VITESSE allows fast production bring-ups and rapid iterations on existing production lines as well as new ones. In addition to bringing agility to factories, VITESSE simplifies data acquisition and enables production monitoring with real-time telemetry.
“It becomes critical to accelerate the transition to industry 4.0: while initiating pilots with brands in Automotive, Smart Warehousing, Biotech and Greentech, we met incredible traction from customers which attracted investors and motivated them to close fundraising quickly. To enable production agility with smart automation is key for a better future; our platform increases quality and working conditions; it also boosts productivity, traceability and is essential to protect our planet by decentralizing production and redistributing supply chains. VITESSE is the missing universal automation operating system that will support this transformation, and we are thrilled to have passionate venture capital partners and experts on board to help us on this journey,” said Luc Leroy, founder and CEO of Full Speed Automation.
The round will support the development and reach of the software platform with teams in the U.S. and Europe. The global industrial automation market size is projected to grow from $168 billion (2019) to $326 billion in 2027 (Source: Fortune Business Insights). "We’ve cultivated strong relationships in the manufacturing sector over the years, and we know that the Full Speed Automation team has the deep domain expertise, product vision, and operational skills to radically improve how production lines are set up, managed, and repurposed. We’re excited to be partnering with them in tackling this massive opportunity," said Aymerik Renard, General Partner at HCVC.
About Full Speed Automation
Full Speed Automation enables production agility with intelligent automation software. The company was founded by Luc Leroy, who drove the Core Automation Engineering team at Tesla to solve the Model 3 "automation hell", helping make production profitable. He developed the team and set up the new controls and software architectures for Gigafactory Shanghai, battery cells and Model Y production lines. VITESSE (=V=), the company’s first product, is the world’s first no-code automation controls platform. It enables fast bring-up and rapid iterations, using the best engineering practices. Full Speed Automation is located in Los Gatos, Silicon Valley.
For more information visit www.fullspeedautomation.com