University of Sheffield spinout Productive Machines has picked up £2.2m for its AI software that aims to reduce the damage caused by machine vibrations in metal mills.
Productive Machines creates a digital twin – a virtual representation – of machinery in action to predict the optimal way for it to complete the task.
The company says this can help avoid harmful vibrations, perform milling jobs correctly at the first attempt, and reduce maintenance and waste.
Dr Erdem Ozturk, CEO and founder of Productive Machines, said: “Manufacturers want to reduce costs, improve quality and cut carbon emissions. But most don’t want to buy complex software products or hire PhD-level engineers to make them work.”
Based in Rotherham, South Yorkshire, the spinout estimates its software can be applied to approximately three million machines globally.
The metal milling AI company has already deployed its software at ten manufacturing businesses, such as automotive maker Renault and MASA Aerospace.
Productive Machines will spend the seed funding on growing its headcount from eight to over 20.
Alexander Leigh, investment director for UKI2S and Future Planet Capital Group, said: “We are excited by the technology’s ability to reduce energy consumption by up to 25%, in addition to the improvement in surface quality, yield, and waste reduction, all of which offers the potential to bring high-value jobs back to the UK in the machining industry.”
Productive Machines is based on six years of research by Ozturk and the company’s CTO Dr Huseyin Celikag.
UK Innovation & Science Seed Fund (UKI2S) led the firm’s round along with support from NPIF – Mercia Equity Finance, ACT Venture Partners and Fuel Ventures. It also secured a £700,000 grant funding from Innovate UK.