DeepHow, an AI firm in Detroit, announced it has closed on $9 million in pre-Series A funding led by Sierra Ventures, a specialist in early-stage venture capital funding. Osage Venture Partners, Qualcomm Ventures, and pre-seed investor Foothill Ventures also participated in the funding round.
The investment for DeepHow, which turns technical know-how into how-to training videos, now stands at $13 million. The company states it will use the additional funding to solidify its technical lead, accelerate its market expansion in Asia, and fuel its enterprise sales and marketing initiatives.
“This oversubscribed pre-Series A round underscores the vision we share with our investors and demonstrates their confidence in our ability to build on our technical leadership and accelerate our go-to-market operations,” says Sam Zheng, co-founder and CEO of DeepHow.
DeepHow, founded in 2018 by a team of ex-Siemens researchers and engineers, combines the latest advances in AI, natural-language processing, computer vision, and knowledge mapping to “revolutionize how knowledge is captured, digitized, and organized,” according to Zheng. The company has developed and markets an AI-powered workforce readiness platform for the skilled trades.
Designed for the manufacturing, field service, construction, and equipment maintenance sectors, DeepHow streamlines the capture and transfer of technical skills and know-how — compressing project time 10-fold, boosting worker performance by 25 percent, and dramatically reducing overall training and development costs, according to the company.
“Manufacturing is the economic backbone of many countries and the largest driver of employment,” says Zheng. “The top-10 largest manufacturing countries in terms of economic output employ an average of 15 percent of their workforce — 12 million in the U.S., 8 million in Germany, 10 million in Japan, and over 110 million in China. We see an enormous opportunity to equip manufacturers globally with advanced and proven technology to help them up-skill and re-skill these workers.”
“Sam and his experienced team at DeepHow have developed breakthrough technology that is already delivering a clear ROI in enterprise manufacturing settings,” said Ben Yu, managing partner at Sierra Ventures. “DeepHow is seeing strong market tailwinds due to the rapid changes in technology, an aging workforce, and the shortage of skilled workers in the global manufacturing and service industries. There’s a clear opportunity for the team to establish DeepHow as the leading knowledge capture and training platform for the manufacturing and service industries.”
For more information, visit deephow.com.