Santa Cruz's minds.ai Raises $5.3m
minds.ai, a deep learning solutions company based in Santa Cruz, California has secured $5.3 million in seed funding which will support the company’s mission in furthering innovation in the application of AI in the semiconductor industry. The funding round was led by Monta Vista Capital along with participation from Momenta and other investors. minds.ai has also added Venkatesh Shukla from Monta Vista Capital and Michael Dolbec from Momenta to its board of directors as part of the financing.
Semiconductors are a vital component in electronic products and with the ever-rising demand for electronic products comes an increasing demand for more efficient semiconductor manufacturing. McKinsey & Company predicts that semiconductor manufacturing will be a trillion-dollar industry by 2030. Semiconductor manufacturing is a complex process involving hundreds of steps and tools, requires efficient management and scheduling across the fabrication process, and typically requires human decision-makers. Limited qualified staff, a constantly changing environment, and an increasingly demanding industry can significantly slow down or negatively impact manufacturing.
To address these challenges, minds.ai leverages deep learning technology to improve the efficiency and productivity of large-scale semiconductor manufacturing processes. The company created DeepSim, “a flexible AI engine that combines a powerful mix of open-source and proprietary AI tools into a simple, stable, cloud-based platform.” Their end-to-end solution, minds.ai Maestro™, integrates DeepSim into existing workflows and utilizes supervised learning, reinforcement learning, and generative AI in order to optimize processes for leaders in large-scale semiconductor manufacturing.
The implementation of minds.ai's solution offers several benefits, including improved targeted key performance indicators (KPIs), make faster planning and investment decisions, and access to deep learning tools and AI expertise for C-suite leaders. With the increasing importance of semiconductor manufacturing and the projected growth of the industry, minds.ai aims to drive innovation and efficiency in this critical sector.
Sumit Sanyal, CEO and co-founder of minds.ai.
“We're on a mission to completely transform the semiconductor industry through the application of various deep learning techniques. These technologies are key to solving some of the biggest pain points in this sector, with the ability to deliver results that existing tools could never achieve. The investment from Monta Vista Capital and Momenta will help accelerate our journey,” remarks Sumit Sanyal, CEO and co-founder of minds.ai.
About minds.ai
minds.ai dramatically improves the efficiency and productivity of semiconductor manufacturing processes. This includes enabling more semiconductor wafers to be produced faster with less waste at a lower cost, reducing the number of scraped wafers, and speeding up the design and planning processes. Founded in 2014, minds.ai is headquartered in Silicon Valley with offices in Amsterdam and Bangalore. More information is available at https://minds.ai/
Jobs
minds.ai is hiring engineers. See: Careers
Additional resources
Listen to Momenta's Podcast "The Digital Thread" featuring Sumit Sanyal: Podcast Link