Their artificial intelligence technology is already revealing production errors in automotive and is being prepared for the global market.
The Czech company 24 VISION has developed a tool that uncovers 99% of errors in automotive manufacturing and has received an investment of 37.5 million CZK for its further development. Thanks to the finances provided by Y Soft Ventures, Nation 1 and the QPAG group, 24 VISION can focus on the further development of its scalable product and its preparation for the global market.
Technologies developed by 24 VISION are already being used in the production processes of some of the largest players in the automotive industry, which has given them a great reputation among global leaders in the industry. In a matter of seconds, the system analyzes products and their quality, with an accuracy 10 times higher than that of the human eye. Thanks to machine learning, the system is able to not only identify configuration errors, but also hidden defects. This product, which offers great potential in many different segments, caught the attention of multiple investors.
“Companies within the automotive industry typically produce up to thousands of different variants of their products, and supervising this level of production is difficult for even a number of machines, not to mention people. We founded 24 VISION with this exact problem in mind, as it affects essentially the entire industry,” Martin Hriško, CEO of 24 VISION, said. “Today, our solution can be picked up and implemented into virtually any serial production line. We teach our system how to recognize any product form, including any variation or customer specific products. This allows us to easily weave our system into any variable form of production,” Martian Cviček, CTO of 24 VISION, added.
Currently, 24 VISION has implemented their system into the assessment of car doors, dashboards, car seats and small painted components. This technology is actively being used by the largest domestic car manufacturer, ŠKODA AUTO, Brose CZ and companies within the Hyundai Motor Czech group. Other car manufacturers are exhibiting interest in the system as part of their pilot projects.
The lead investor, Y Soft Ventures, sees the scalability and universality of the solution as its largest competitive advantage. “Start-ups that make use of computer vision for quality control often start as project businesses, which is hard to scale up. 24 VISION is already well past this process and now knows how to switch to a scalable business model.” Lukáš Konečný, junior partner at Y Soft Ventures, explained.
The company, 100% REWORK, a Czech leader in quality control services, is part of QPAG group’s portfolio. According to Martin Hriško, representatives of both companies see great potential in possible cooperation.
24 VISION is planning to use the investments they received to develop a scalable product that will be easy to implement on the global playing field. “Our artificial intelligence system has an essentially endless list of possibilities, and there are many fields that would benefit from the elimination of human error. Our vision is to develop an easy to implement product that significantly limits the appearance of hidden errors and defects in production,” Martin Hriško added.