Cision PR Newswire
OnSight Technology Secures SEED Investment to Support its Growing Robotics and Computer Vision AI Solution for the Solar Industry
News provided byOnsight Technology
Sep 19, 2023, 6:00 AM ET
SACRAMENTO, Calif., Sept. 19, 2023 /PRNewswire/ -- OnSight Technology, a leading robotics and computer vision company for the PV solar industry, is thrilled to announce the successful completion of its Seed round.
With this injection of funds, OnSight Technology is poised to propel its computer vision and autonomous driving initiatives to new heights. The investment enables the company to strengthen its research and development capabilities, attract top-tier talent, and forge strategic partnerships to further refine and enhance their AI algorithms. By leveraging cutting-edge technologies, OnSight aims to unlock the true potential of artificial intelligence in streamlining and optimizing solar operations.
Moneta Ventures, an early stage venture capital firm, led the round, with Stäubli, the global market leader in solar connections and renowned player in robotics and industrial automation, joining as a strategic investor and board member. There was additional participation from previous investors, including the Sacramento-based Growth Factory.
"We are grateful to Moneta Ventures, Stäubli, and the Growth Factory for their support," said Derek Chase, CEO of OnSight Technology. "This round will propel us forward as we continue to innovate and revolutionize the robotics and computer vision landscape for the solar industry."
Moneta Ventures, known for its expertise in early-stage investments, recognizes the enormous potential of OnSight Technology's cutting-edge solutions. By leveraging its strong network and resources, Moneta Ventures aims to guide OnSight Technology toward sustainable growth and industry leadership.
"OnSight's platform will enable the rapidly growing utility solar market to dramatically reduce commissioning and maintenance costs while improving accuracy and asset performance," said Lokesh Sikaria, Managing Partner of Moneta Ventures. "OnSight's solution is truly differentiated, as their robots enable data capture beneath the panels, where many equipment failures occur. We are proud to be backing an incredible team of industry veterans and technological experts."
Stäubli's investment solidifies the strategic partnership between the two companies. As the global market leader for solar connections, and a renowned player in robotics and industrial automation, Stäubli brings valuable expertise and industry insights to further fuel OnSight Technology's success on the way to increasing a safer future for the photovoltaics industry.
"We are thrilled to participate in OnSight Technology's development of innovative Computer Vision and AI solutions to enhance safety in the solar industry", explains Franco Delvecchio, EP of Stäubli Electrical Connectors. "It's part of Stäubli's DNA to push forward innovation and future-oriented technologies to make our customers' operations easier and safer."
The Growth Factory's 3rd investment into Onsight Technology showcases their commitment to fostering innovation and driving economic growth in the Sacramento region. Their ongoing investments demonstrate the belief in the company's vision and potential.
"At Growth Factory, we are proud to identify world class founders in the Sacramento Region and support them with the funding, connections, and programming it takes to build their business. As the first check in to Onsight, we are excited to double down and continue supporting their journey to build a world class company!" Rick Spencer, Founder and Managing partner of GF Ventures.
About OnSight Technology:
OnSight Technology is a leading robotics and computer vision company that specializes in developing advanced solutions for Utility and Commercial Solar Industry. By combining state-of-the-art technology with deep industry knowledge, OnSight Technology aims to transform traditional processes and drive efficiency, productivity, and safety.
View original content to download multimedia:https://www.prnewswire.com/news-releases/onsight-technology-secures-seed-investment-to-support-its-growing-robotics-and-computer-vision-ai-solution-for-the-solar-industry-301931354.html
SOURCE Onsight Technology
NOTE: This content is not written by or endorsed by "KTSM", its advertisers, or Nexstar Media Inc.