bananaz Launches with $5.3 Million to Revolutionize Design Management with AI
Deal News | Dec 03, 2024 | PR Newswire Cision bananaz
bananaz, a Tel Aviv-based startup, has exited stealth mode with a $5.3 million seed funding round funded by notable investors 10D and Cardumen Capital. The company bridges AI with design change management, targeting the design and manufacturing sectors to optimize workflows and reduce costly errors. Leveraging the latest advancements in artificial intelligence and computer vision, bananaz aims to automate error detection and streamline design workflows, providing real-time collaboration tools for both engineering teams and external partners. The platform promises significant time and cost savings across the production lifecycle. Industry experts recognize the importance of integrating AI in design processes for modern engineering, underscoring its necessity to remain competitive and adhere to quality standards. With a focus on reducing manual design revisions, bananaz's technology can substantially cut engineering time inefficiencies, which currently consume a large portion of engineering cycles, thereby preventing the erosion of company revenues due to design errors. The backing from 10D and Cardumen Capital acknowledges bananaz's potential to transform manufacturing industry workflows and reduce financial impact deriving from design inefficiencies.
Sectors
- Technology
- Manufacturing
Geography
- Israel – bananaz is based in Tel Aviv, Israel, where its development and strategic business initiatives are centered.
Industry
- Technology – The article discusses the integration of AI technology in design management processes, positioning bananaz as a tech-driven solution provider in the design and manufacturing sectors.
- Manufacturing – bananaz's platform specifically targets the manufacturing industry by introducing AI-driven design management tools to eliminate inefficiencies and enhance productivity.
Financials
- 5,300,000 – The seed funding amount raised by bananaz to develop its AI-based design management platform.
Participants
Name | Role | Type | Description |
---|---|---|---|
bananaz | Target Company | Company | A startup providing AI-driven design change management platforms for manufacturing and engineering teams. |
10D | Investor | Company | A venture capital firm investing in early-stage technology companies, backing bananaz in their recent funding round. |
Cardumen Capital | Investor | Company | A venture capital firm that invests in deep tech startups, contributing to bananaz's seed funding. |
Or Israel | CEO | People | The CEO of bananaz, who has been instrumental in leading the company's innovative approach to design management. |
Adi Dangot Zukovsky | Associate | People | An associate at 10D, commenting on bananaz's potential to address manufacturing challenges. |
Gonzalo Martínez de Azagra | Partner | People | A partner at Cardumen Capital, noting the ripe opportunity for disruption in the industry by bananaz. |
Nina Gill | PR | People | Responsible for media relations for bananaz. |