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Eigen Innovations Raises $2.6M to Advance Thermal Inspection/AI Solutions

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FREDERICTON, New Brunswick, Oct. 23, 2024 — AI industrial inspection and automation solutions provider Eigen Innovations closed a $2.6 million equity financing round. The company said the capital will accelerate its growth in promoting its AI-enabled thermal inspection solutions that address the demands and challenges of automating in-line inspections where other solutions fall short.

For temperature-sensitive applications within manufacturing, thermal cameras provide visibility beneath the surface of the product being produced. Eigen’s AI software aims to enhance this value, to generate a standard view/perspective of every inspected product. Using standardized images — which Eigen calls a ‘digital record’ — factory teams are enabled to train scalable AI inspection models to deliver a consistent inspection of every product produced.

As part of the financing, Ken Forster, founding partner of Momenta Venture, which lent support to the round, was added to Eigen’s board. He joins Jeff White, CEO of New Brunswick Innovation Foundation, who was also added to the company’s board earlier this year.

Published: October 2024
Glossary
thermal imaging
Thermal imaging is a technology that detects infrared radiation (heat) emitted by objects and converts it into an image, known as a thermogram, which displays temperature variations in different colors. Unlike visible light imaging, thermal imaging does not require any ambient light and can be used in complete darkness or through obstructions such as smoke, fog, and certain materials. Thermal cameras use sensors to detect infrared radiation and generate images based on the temperature...
machine vision
Machine vision, also known as computer vision or computer sight, refers to the technology that enables machines, typically computers, to interpret and understand visual information from the world, much like the human visual system. It involves the development and application of algorithms and systems that allow machines to acquire, process, analyze, and make decisions based on visual data. Key aspects of machine vision include: Image acquisition: Machine vision systems use various...
BusinessfundinginspectionAIthermal imagingImagingcamerasmachine visionautomationindustrialAmericasEigen Innovations

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