Actionable insights, that’s what’s key today in making decisions that are right for any business, though one could say they are more important with companies that rely on Big Data to make correct forecasts for a healthy ROI.
With digitization and automation perennial in the era of Big Data, what’s crucial is to have an expert — either a star individual or company with the wherewithal to make the important decisions — on board.
Named on CB Insights’ AI 100 ranking for 2020 for achievements in AI, and selected as the only one serving the mining sector, Razor Labs — an Israeli startup founded in 2016 — understands clients’ needs and can meet them while reshaping industrial operations with its Evolving AI™. It does this by taking advantage of existing data to enhance asset performance and attain operational excellence via custom-made Deep Neural Networks.
In just four years, founders Ido Rozenberg, Michael Zolotov and Raz Roditti turned Razor Labs from a fully bootstrapped startup into a global company issued on the Tel Aviv Stock Exchange with its DataMind AI, a tool that can predict the operational future of a factory and machinery by converting masses of data into real-time — there’s that word again — actionable insights.
The unique features of this tool include its data-driven approach with no additional hardware required, it can reduce planned and unplanned maintenance costs, and it continuously learns unique machine behaviour that improves over time.
So how long in advance can customers predict failures?
Well, according to the company’s website, the DataMind AI tool can predict failures up to 14 days prior to them occurring; this is in contrast to the several hours using ML tools and less than one hour with a trained operator, remarkable when you think about it.
Razor Labs’ CEO is Raz Roditti. With a Bachelor of Law from Tel Aviv University, before Razor Labs Roditti was the CEO of several Tel Aviv-based startups.
Michael Zolotov is CTO at Razor Labs, as well as co-founder and board member at Axon Vision, Axon Pulse, and Compie Technologies. A participant in the prestigious Talpiot program and a Captain in an elite R&D unit in the Israeli Defense Forces, Zolotov advises multi-national corporations and is considered a thought leader in the fields of AI and deep learning (DL).
He obtained a Master’s from Tel-Aviv University on research into lung cancer detection using deep learning methods.
Lastly, we have CSO Ido Rozenberg, an experienced Vice President in R&D with experience of working and developing many algorithmic-based products, both with DL and classic computer vision algorithms, who’s responsible for the R&D of Razor Labs’ many products.
Rozenberg obtained a B.Sc. in Computer Science from The Hebrew University of Jerusalem.
As already mentioned, Razor Labs went public on March 26th of this year with a valuation at IPO of $151 million, having raised $36 million in venture capital prior to it.
On the move, CEO Raz Roditti said:
“The decision to take a young startup to be publicly traded instead of VC Founded means taking a journey off the beaten path and leverage the public’s faith in our vision.
We’ve bootstrapped thus far and could have continued to do so quite successfully, but the growing demand and market potential called for a dramatic expansion, so we decided to take our company to the stock exchange. We’re excited to bring our elegant and smart solution to industries across the globe.”
With headquarters in Tel Aviv and offices in Australia, Razor Labs’ mission to build out its IP and transform such industries and Lithium-ion battery production and mining with AI is on the right path to success.