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Feb 4, 2020 Düsseldorf / Germany
Henkel participates in the latest funding round of Fero Labs, a US-based start-up aiming to optimize industrial processes by using explainable machine learning. The investment is led by the company’s HenkelX Ventures unit, together with DIVC, a Munich-based B2B Tech investor. Henkel will support Fero Labs to grow its existing customer base while at the same time further leverage the potential of Industry 4.0 applications in its own production sites, as well as in joint business development together with clients and suppliers.
“Fero Labs’ software offers a great opportunity to further analyze and optimize production processes on various levels and has already proven its potential: explainable machine learning can contribute to better planning, sourcing and production. We are looking forward to partnering with the Fero Labs team to jointly drive the further digital transformation of industrial manufacturing processes – within Henkel and beyond,” said Dr. Rahmyn Kress, Global Head of HenkelX Ventures. By driving progress in Industry 4.0 across its production sites worldwide, Henkel wants to optimize processes to better utilize manufacturing plants, increase services for customers and support Henkel’s sustainability footprint by reducing energy and waste.
Fero Labs, headquartered in New York City and with a second office in Düsseldorf, has developed a dedicated software suite “Fero”, that provides explainable machine learning to enhance production processes and increase efficiency while improving the overall manufacturing quality. Henkel has adopted “Fero” in pilot projects at selected production sites and plans to further roll it out.
“With its dashboard solution, the software simplifies the planning, forecasting and maintenance for plant engineers, while driving cooperation and efficiency in a unique way,” says Dr. Rawina Varandani, Head of Henkel’s automatic dishwashing production in Düsseldorf who has been successfully running the first trials with her team. Key benefits are the analysis of all factors leading to potential quality issues in their combination that can then be predicted and solved in scenarios via the visualization feature of the tool.
“We are living in an interconnected world and machines operate in increasingly interconnected processes. At Fero Labs, our core mission is to generate profits for our partners in industry by empowering them with our explainable machine learning software,” says Berk Birand, CEO Fero Labs. “By combining our customer’s data with the latest advances in the field of data science, we support companies like Henkel leap into this next stage of industrial productivity.”
“Based on latest developments in Machine Learning and Artificial Intelligence, Fero Labs has developed a uniquely powerful software suite,” says Klaus Kleinfeld, Investor, Board Member, and Advisor at Fero Labs. “It allows optimizing most complex industrial processes to substantially improve performance and profits. Fero Labs’ solution has shown impressive results for their customers in different industries. I am convinced that Fero Labs has a great potential for its investors.”
More information on Fero Labs, its software and customer base can be found at: feroLabs.com.
About HenkelX Ventures
HenkelX Ventures is a platform designed to help the world's most disruptive companies reach their full potential. HenkelX Ventures, invests in early stage disruptive technology start-ups with ambitious founders. Adding the ecosystem of hyperconnected experienced mentors which include entrepreneurs and executives from the world's most successful technology firms and industrial companies, that partner with our portfolio companies as they scale to become game changers in the industry and marketplace.