- October 7, 2024
- NBIF News
- Comments : 0
NBIF Announces Follow-On Investment in Eigen Innovations Inc.
Peter Goggin
Director of Investments
We’re excited to announce that NBIF has made a follow-on investment of $500,000 in Eigen Innovations Inc., led by CEO Erin Barrett, as part of a $2.6 million funding round. This latest investment was supported by BDC Women in Technology Venture Fund, Momenta Ventures, and other visionary partners dedicated to driving innovation in advanced manufacturing.
Founded in 2012, Eigen Innovations Inc. has been helping manufacturers implement AI-enabled quality inspection solutions that optimize their production processes. By capturing and consolidating data for in-line inspections, Eigen’s technology allows factory teams to automate quality control, reduce defects, and leverage analytics to improve operational efficiency.
This round will help accelerate Eigen’s expansion of its AI-powered in-line inspection technology using thermal imaging, which is transforming how manufacturers address quality control in their production processes. With this innovative approach, Eigen’s solutions go beyond the capabilities of traditional inspection methods, allowing factory teams to detect issues in real time and optimize production efficiency.
Elevating the Standards of Industrial Inspection
Eigen Innovations has made significant strides in enhancing thermal inspection for temperature-sensitive applications within manufacturing. By combining thermal cameras with their AI software, Eigen has developed a unique way to generate consistent digital records of every product being inspected. This approach not only standardizes the inspection process but also empowers manufacturers to train scalable AI models that deliver consistent, real-time analysis, ensuring a higher level of quality control.
NBIF’s Continued Commitment to Eigen’s Growth
NBIF has supported Eigen Innovations since our initial investment in 2014, and our total commitment to the company has now reached $2.75 million. We are proud to have backed Eigen through multiple investment rounds as they continue to revolutionize the manufacturing industry with their AI-driven solutions.
Jeff White, NBIF CEO joined Eigen’s board earlier this year and played a pivotal role in helping Eigen raise this round. “From our intitial investment in 2014, we recognized the incredible potential Eigen Innovations holds. Their technology is transformative, their customer base is expanding, and the market opportunities are vast. We are proud to support their journey toward revolutionizing manufacturing inspection solutions.”
With this new funding, Eigen Innovations is set to scale its impact in the manufacturing sector even further. Their focus on thermal imaging technology coupled with AI capabilities is already making waves by solving challenges that traditional methods have long struggled to address. As part of their outreach, Eigen has developed portable demos to showcase the transformative capabilities of their solutions, helping prospective customers see firsthand how AI can redefine in-line inspection processes.
We look forward to seeing Eigen Innovations continue to lead the charge in advanced manufacturing, and we’re honored to be a part of their growth story.
For more information about Eigen Innovations, visit www.eigen.io.
