Orbia Ventures Invests in Deepomatic, AI Startup that Augments Field Technical Work for Industrial Companies
Paris, November 28, 2022 – Deepomatic has closed a $10.3 million Series B financing round, supported in part by Orbia via its corporate venture capital fund Orbia Ventures. This round of funding will propel the company's expansion in Europe, North America and Latin America and enable Deepomatic’s new customer acquisition in the energy and mobility sectors. Orbia is joined by the corporate investment fund of the German utility company EnBW New Ventures and existing investors Alven, Hi Inov-Dentressangle and Swisscom Ventures.
To address a present shortage of technicians who are able to deploy and maintain crucial infrastructure and communication networks worldwide, Deepomatic has designed an in-field solution that allows telecommunications and utility companies to streamline network reporting and management with AI tools. Deepomatic’s platform consists of an image recognition engine, a mobile application for technicians and a browser-based business monitoring and support solution that allows for the rapid analysis of photos and field reports. The Deepomatic platform enables productivity and quality control gains for technicians, easier access to operational data across teams for proactive maintenance planning and has been demonstrated to reduce revisit rates by network technicians by up to 15%.
Said Augustin Marty, CEO of Deepomatic, “We are thrilled to welcome two new international investors for this new chapter of Deepomatic's history, which symbolizes our strong growth ambitions abroad. The arrival of EnBW New Ventures as part of a German utility group and Orbia Ventures with Orbia’s global footprint in utilities and telecommunications and its roots in North America, will help us reach new clients and provide us with operational expertise to accelerate our international deployment. I also want to thank our existing investors, who unanimously decided to reinvest in Deepomatic, for their renewed confidence.”
Today, Deepomatic assists 20 large telecommunications and utility companies, supports 20,000 technicians and operators in their daily tasks and generates 1 million operational analyses each month on its platform. Deepomatic will utilize Series B funding to accelerate its penetration into the renewable energy, electric mobility, construction and insurance sectors across Europe, North America and South America using mobile agent technology. In addition, the company intends to invest in building out its data library and develop predictive maintenance services for industrial customers.
“We are really pleased to be part of this round of funding that will help Deepomatic achieve its growth potential,” said Eitan Dekel, Managing Director of Orbia Ventures. “Deepomatic’s leading visual automation platform is pioneering in its use of AI technology for field operations and has many synergies across Orbia’s business groups. Working together, we aim to help develop and move the technology into new sectors and regions.”
Deepomatic currently has 70 employees, recently hired a vice president of sales and intends to onboard more than 50 new employees by 2024 to support its growth goals.