The round was led by Innovation Industries, with participation from Deeptech Labs, an accelerator initiated by Arm and The University of Cambridge, among others. Rick Belluzzo, former COO of Microsoft, and Bram Schot, former CEO of Audi - both of whom joined the AutoFill Board of Advisors earlier this year - also participated in the round.
Currently, most object inspections in the automotive and rail sectors are performed by humans. Existing automated solutions, meanwhile, are costly and require substantial space and infrastructure to function. AutoFill has pioneered a solution which combines vision technology with multi-sensor data fusion to identify anomalies and increase the accuracy of quality standards.
Designed to be as agile as possible, AutoFill’s solution can be incorporated seamlessly into existing operational processes, ensuring further efficiencies, objective reporting, increased safety, and cost savings. All of this modernises, optimises and enhances quality control at scale.
Speaking on the fundraise, AutoFill CEO and co-founder, Gideon Richheimer, says: “AutoFill’s technology removes the limitations presented by human involvement, significantly raising safety and accuracy standards, and making huge financial savings for the enterprise. We believe our solution will play an important role in accelerating a more efficient future initially for the automotive and rail industries and are extremely grateful to our investors for supporting us in this mission.”
Headquartered in Wassenaar, AutoFill recently opened a second office in the High Tech Campus Eindhoven, considered to be the largest centre for technology innovation in Europe.
The company has received a major vote of confidence in its solution, having secured backing from Innovation Industries, a venture capital firm which is renowned for only backing the most promising deep tech start-ups and scale-ups.
The investment will be used to advance AutoFill’s technical solution, strengthen its current operational deployments at partner sites, and grow its engineering team.
Harm De Vries, co-founder and general partner at Innovation Industries, says: “AutoFill is a ‘new gen’ deep tech start-up founded by a very experienced team. The offering is a market validated, highly scalable solution. We are convinced that AutoFill will have a revolutionary impact on inspection workflow processes for numerous industries - potentially saving them billions of dollars a year.”
Miles Kirby, CEO of Deeptech Labs, says: “Following AutoFill’s completion of our powerful and highly coveted accelerator programme, we are delighted to demonstrate our commitment to the company through this funding round. AutoFill’s progress demonstrates the value of our role as a catalyst for deep tech success. We are excited to see the positive impact AutoFill’s technology can have on the automotive and rail industries as well as many other sectors. We look forward to continuing to support AutoFill and helping the business grow.”
Bram Schot, former Audi CEO and AutoFill board member, says: “I joined AutoFill’s Board of Advisors earlier this year because I was so impressed by the experience of the leadership team and the credibility of its solution. My subsequent investment in its future is testament to that continued confidence, and I look forward to witnessing the results of this successful funding round first-hand.”