Elementary recognized for achievements in machine vision and industrial quality inspections

NEW YORK , May 19, 2022 /PRNewswire/ -- CB Insights today named Elementary to its annual AI 100 ranking, showcasing the 100 most promising private artificial intelligence companies in the world.

"This is the sixth year that CB Insights has recognized the most promising private artificial intelligence companies with the AI 100. This year's cohort spans 13 industries, working on everything from recycling plastic waste to improving hearing aids," said Brian Lee , Senior Vice President of CB Insights' Intelligence Unit. "Last year's AI 100 companies had a remarkable run, raising more than $6 billion , including 20 mega-rounds worth more than $100 million each. We're excited to watch the companies on this year's list continue to grow and create products and services that meaningfully impact the world around them."

"Manufacturing and supply chain are being forced through the largest transformation we've seen in decades. The global supply chain shock, coupled with increased demand and a difficult labor market, make it imperative that manufacturers find autonomous solutions to automate processes, improve digital intelligence, and increase yield and volume," said Arye Barnehama , Chief Executive Officer and founder of Elementary. "At Elementary, we champion closed-loop quality. Our platform uses edge machine learning to inspect goods and protect production lines from defects. Using cloud technology, inspection data is analyzed for defects and root causes. These AI-driven, real-time insights are then pushed to the factory floor, closing the loop and avoiding defects through operational improvements."

Utilizing the CB Insights platform, the research team picked 100 private market vendors from a pool of over 7,000 companies, including applicants and nominees. They were chosen based on factors including R&D activity, proprietary Mosaic scores, market potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength, and tech novelty. The research team also reviewed thousands of Analyst Briefings submitted by applicants.

Quick facts about the 2022 AI 100:

Equity funding and deals: Since 2017, the 2022 AI 100 cohort has raised $12 billion+ from 650 investors, across 300+ equity deals.

Unicorns: There are 16 companies with $1 billion+ valuations on the list.

Geographic distributions: 73 of the selected companies are headquartered in the U.S. Eight of the winners are based in the UK, followed by five in Canada . Other countries represented in this year's list include India , Sweden , China , and Germany .

About Elementary Elementary delivers an easily scalable, flexible, securly connected machine vision platform that leverages the power of machine learning to open new use cases, provide insights, and close the loop on the manufacturing process. With Elementary Quality as a Service (QaaS), we deploy the inspection hardware, train the machine learning models, integrate with your automation equipment, and provide data analytics. From cameras, lighting and mounting to software and support, we are the single-source product experts, providing everything you need to increase detections, reduce defects and improve productivity.   For more information, please visit: https://www.elementaryml.com/.

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