Better Futures secures €500k in pre-seed funding


Anthony Mc Loughlin, Better Futures

Start-up working on virtual assistants for engineers

Trade

Anthony Mc Loughlin, Better Futures


Better Futures, an early-stage artificial intelligence (AI) start-up, has secured €500,000 in pre-seed funding from angel investors. The company will use the funding to accelerate the roll-out of EVA (Engineering Virtual Assistant) enabling engineers and manufacturers to successfully adopt AI in an innovative approach with the potential of ten-times reduction in lead times, costs and associated risks.

Most engineering and manufacturing leaders have struggled to adopt AI. To successfully implement classical data analytics use cases such as predictive maintenance into production requires significant upfront investment of time, money and resources. The result is that the potential of AI has been limited to a small percentage of companies and departments with the resources and access to the right knowledge and experts.

EVA enables engineers to identify tailor AI use cases and then rapidly deploy AI assistants to access the relevant data and knowledge from across an organisation at the press of a button, in real time and in context, saving time and money.

 
advertisement


 

Based at NovaUCD, Better Futures was founded in 2023 by Anthony Mc Loughlin. He has a 15-year background combining data science, rocket science and business development to help manufacturers such as Airbus, Mercedes and Rolls Royce successfully adopt generative design, advanced analytics and AI.

Mc Loughlin said: “This pre-seed funding will help us accelerate the roll-out of EVA in our initial target markets of Ireland, the UK and Germany, but our goal is to roll out EVA to engineering and manufacturing leaders worldwide. To achieve this goal, we will be looking to close a seed funding round later this year.”

He added: “The adoption of AI into manufacturing and engineering is critically important for all our futures. It is happening but it is very niche and painfully slow… LLMs as incredible as they are, are just the engine. Engineers and manufacturers need dedicated AI assistants to solve their problems and that integrate into their complex ecosystems of expert knowledge, regulations, data and IT systems.”

TechCentral Reporters

Read More: AI Artificial Intelligence NovaUCD start-ups




Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top