VISUS Industry IT receives funding for the digital revolution in quality assurance
January 16, 2020
Gründerfonds Ruhr, NRW.BANK and High-Tech Gründerfonds (HTGF) invest a seven-digit amount in VISUS Industry IT, which digitizes industrial test procedures with their test data and report management system JiveX NDT and provides a standardized archiving and distribution of the results.
Today, the processes and results in material testing, inspection and maintenance of safety-relevant components or systems are still not entirely digital.
Test results are often only available on paper or in the case of radiographic testing on analog X-ray film. Thus, important data about the internal condition of components or plants is not available to other (digital) systems.
This is exactly where VISUS Industry IT comes in with JiveX NDT and closes existing gaps between the systems of test planning of quality assurance, maintenance and inspection.
Images, inspection reports and documents are stored in JiveX NDT in a revision-proof and standardized manner in DICONDE format. The structured data pool in JiveX is therefore a qualified base for teaching systems with artificial intelligence.
In a pilot project, JiveX NDT was able to successfully teach an AI to assess welding seams. The cumulative detection rate of several error types was over 90%.
With the JiveX NDT system, VISUS Industry IT supports inspectors and operators in their daily evaluation of test results, integrates IT systems and test equipment, ensures a revision-proof archive and provides a data pool for artificial intelligence evaluations
About VISUS Industry IT GmbH
VISUS Industry IT GmbH is a spin-off from VISUS Health IT GmbH from the healthcare sector.
After evaluating the industrial market, VISUS Industry IT was founded in January 2018 and took over the software licenses for the medical JiveX system from its parent company for the use in industry.
The product has been adapted for the target markets and is ready-to-sell. In addition to the further development of JiveX NDT, the money from the capital providers is intended to invest in sales and marketing in particular.
Customers from the energy sector, oil & gas, mechanical engineering and testing services have already been won. For 2020, VISUS is targeting new customers additionally in the areas of chemicals, automotive and aerospace.
About the Gründerfonds Ruhr
The Gründerfonds was jointly initiated by Initiativkreis Ruhr and NRW.BANK and is the first private-sector early-stage fund in the Ruhr region financed by regional industrial and financial companies. The fund invests in innovative and technology-oriented companies from the life science & health, digital economy, chemicals & new materials, energy & industry and logistics & trade sectors. The prerequisites are good growth and exit prospects as well as competent management. As a multi-corporate early-stage fund, it also opens up important industry accesses for the respective portfolio companies.
About the NRW.BANK
NRW.BANK is the development bank for North Rhine-Westphalia. It supports its owner, the State of North Rhine-Westphalia, in its structural and economic policy tasks. In its three development fields “Economic Development”, “Housing” and “Infrastructure/Municipalities”, NRW.BANK uses a broad range of development instruments: from low-interest development loans to equity finance and advisory services. It cooperates with all banks and savings banks in NRW on a competition-neutral basis. In its promotion activities, NRW.BANK also takes account of existing offers from the federal government, the state and the European Union.
About the High-Tech Gründerfonds (HTGF)
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven startups. With EUR 895.5 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge more than 560 startups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech startups in a range of sectors, including software, media, internet, hardware, automation, health care, chemistry and life sciences.
To date, external investors have injected over EUR 2 billion into the HTGF portfolio via more than 1,400 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies. Investors in this public-private partnership include the Federal Ministry For Economic Affairs and Energy, the KfW Capital, and Fraunhofer-Gesellschaft e.V., as well as the companies ALTANA, BASF, BAYER, B.Braun, Boehringer Ingelheim, Robert Bosch, BÜFA, CEWE, Deutsche Post DHL, Dräger, Drillisch AG, EVONIK, EWE AG, FOND OF, Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, Postbank, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik, WACKER and Wilh. Werhahn KG.