Fero Labs Named to the 2022 CB Insights AI 100 List of Most Innovative Artificial Intelligence Startups

Factory optimization software maker Fero Labs is recognized for achievements in industrial automation for modern manufacturers

NEW YORK, May 17, 2022 /PRNewswire/ -- CB Insights today named Fero Labs to its annual AI 100 ranking, showcasing the 100 most promising private artificial intelligence companies in the world.

"This is the sixth year that CB Insights has recognized the most promising private artificial intelligence companies with the AI 100. This year's cohort spans 13 industries, working on everything from recycling plastic waste to improving hearing aids," said Brian Lee, SVP of CB Insights' Intelligence Unit. "Last year's AI 100 companies had a remarkable run, raising more than $6 billion, including 20 mega-rounds worth more than $100 million each. We're excited to watch the companies on this year's list continue to grow and create products and services that meaningfully impact the world around them."

"Manufacturing plants across sectors are embracing machine learning technology as a method to boost volume and profitability. However, to fully benefit from the power of machine learning, manufacturers must rely on software solutions that scale to their factories," said Berk Birand, co-founder and CEO of Fero Labs. "Fero's software predicts problems before anything can go wrong. That means engineers can keep issues from halting production, minimizing not only costs, but also waste and emissions. This recognition by the AI 100 ranking validates our purpose and we're eager to continue pushing the industrial sector forward."

Utilizing the CB Insights platform, the research team picked 100 private market vendors from a pool of over 7,000 companies, including applicants and nominees. They were chosen based on factors including R&D activity, proprietary Mosaic scores, market potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength, and tech novelty. The research team also reviewed thousands of Analyst Briefings submitted by applicants.

Unlike black-box machine learning that gives recommendations with no context, Fero Labs' factory optimization software is powered by white-box machine learning that enables manufacturers to stay ahead of ever-changing production conditions. With Fero Labs' intuitive software, engineers can confidently take informed action that gets results without wasting time or resources. Today, Fero Labs is working with leading global manufacturers to deliver better production results in less time, while keeping sustainability top of mind.

To learn more about Fero Labs, please visit ferolabs.com.

Quick facts on the 2022 AI 100:

• Equity funding and deals: Since 2017, the 2022 AI 100 cohort has raised $12 billion+ from 650 investors, across 300+ equity deals.
• Unicorns: There are 16 companies with $1 billion+ valuations on the list.
• Geographic distributions: Seventy-three of the selected companies are headquartered in the US. Eight of the winners are based in the UK, followed by five in Canada. Other countries represented in this year's list include India, Sweden, China, and Germany.

About CB Insights
CB Insights builds software that enables the world's best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.

About Fero Labs
Fero Labs is a factory optimization software that is powering the next wave of industrial manufacturing. Since launching in 2015, Fero Labs has built actionable machine learning for the industrial sector to optimize production, reduce waste, and improve quality. Headquartered in New York, Fero Labs aligns with leading global manufacturers to increase profitability by up to 10% by cutting waste with confidence to increase sustainability and profits across your entire enterprise.

For more information, visit www.ferolabs.com. Follow us on LinkedIn.

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SOURCE Fero Labs