RUTILEA, Inc. (Headquarters: Kyoto City, Kyoto Prefecture, President and CEO: Takafumi Yano) received a Series B round of funding from lead investor Abies Ventures and Saudi Arabia's government investment fund Riyadh Valley Company (Riyadh, Kingdom of Saudi Arabia, hereafter RVC).
The Kingdom of Saudi Arabia has announced investment in cutting-edge technology overseas in its economic reform plan "Vision 2030" by 2030, and this time, RUTILEA's AI solutions and international expansion attracted attention and led to the investment.
About us
RUTILEA's mission is to create AI solutions that can immediately solve the problem of labour shortages, and develop products with AI engineers around the world to solve problems for major domestic automobile manufacturers, general home appliance manufacturers, electrical equipment manufacturers, etc. It is working.
Regarding use of raised funds
With this funding, the focus will be on research and development of new algorithms, recruitment of engineers, marketing, and promotion, expand the scale of our business, and contribute to solving labour shortages for more customers.
Comments from the investors
Riyadh Valley Company
Riyadh Valley Company, the investment arm of King Saud University, invests in Saudi Arabia's domestic and international portfolio to achieve King Saud University's and the Kingdom's Vision 2030, creating a knowledge-driven economy and national strategy with cutting-edge technology. The aim is to contribute to the field of creative projects. Investing in the information and communication technology sector is one of Riyadh Valley Company's goals, especially in companies like RUTILEA, which integrates both AI and factory automation expertise and combines software and hardware technical know-how. investment is one of them. Riyadh Valley Company believes there is great potential in the Japanese AI market as AI defect inspection equipment and other concrete solutions using modern technology are expected to create significant value for manufacturers and suppliers. We look forward to it.
Abies Ventures
The world's competitive manufacturing industries are focusing on making full use of AI to increase their competitiveness. In particular, the use of AI is essential in order to increase strategic superiority while responding to major changes in the macro environment such as labour shortages in developed countries, a shift from product quality to process quality, and environmental considerations. In the manufacturing industry, which has been regarded as Japan's strength, there has been a noticeable decline in its overseas presence, and delays in digital transformation are considered to be one of the main reasons for the decline in competitiveness. DX approaches in the manufacturing industry are being explored all over the world, but RUTILEA's plug-and-play products and uniqueness in providing solutions that produce results immediately after implementation have led major companies in Japan and abroad to adopt them. We believe that this has also led to comprehensive business alliances with leading companies. Abies Ventures has been consistently supporting RUTILEA since its first investment in 2021, focusing on its potential for global expansion.We will leverage our strong overseas network to support growth as a lead investor.