Sarine Technologies Acquires Majority Stake in AI QA/QC Specialist Kitov.ai
Sarine Technologies has made a significant move, acquiring a majority stake in Kitov.ai, a specialist in AI-powered quality assurance (QA) and quality control (QC) solutions. The acquisition, worth $6.7 million, includes a cash investment and a convertible loan, aiming to boost Kitov.ai's growth and expand Sarine's reach into new industries.
Kitov.ai's innovative 3D visual inspection system uses artificial intelligence to examine multiple parts at once, making it ideal for factories with small batch production. The system checks for key parts, correct placement, surface quality, labels, and barcodes, ensuring high product standards.
Sarine, known for its diamond industry technology, sees this acquisition as a strategic diversification. By investing $4.1 million initially and providing a $2.6 million convertible loan, Sarine aims to increase its ownership to 51%. Daniel Glinert, executive chairman of Sarine, believes this partnership will help Kitov.ai become a leading provider of AI QA/QC solutions. Kitov.ai, already serving customers in industrial automation and manufacturing sectors, will bring valuable expertise to Sarine's portfolio.
With this acquisition, Sarine Technologies gains a foothold in the AI-driven QA/QC market, while Kitov.ai benefits from Sarine's financial and strategic support. Both companies look forward to exploring new opportunities and expanding their reach in various industries.
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