Cognivix is a trailblazing Italian startup that aims to transform the automation landscape for small and medium-sized enterprises (SMEs) by offering an AI-driven solution tailored to high mix low volume (HMLV) production processes. Our cutting-edge technology bridges the gap in the automation market by providing a cost-effective, adaptable, and robust solution that empowers SMEs to automate their production and remain competitive in the global arena. With a total market size estimated at 20-30 billion USD and a TRL 6 prototype, Cognivix has already secured Smart & Start Italia funds, raised 127k through crowdfunding, and received a 75k investment from Magic Spectrum, a Cassa Depositi e Prestiti accelerator.
Cognivix’s Fieldview system is a revolutionary technology that brings the benefits of automation to small-scale production. Traditional automation solutions are often not practical or cost-effective for small-scale production, but Fieldview’s vision and training station make data acquisition and labeling fast and accessible to unskilled personnel.
Fieldview has a wide range of applications throughout the production chain, but Cognivix is initially focusing on two processes: bin picking and assembly. Bin picking involves taking items from a container or bin and placing them on a conveyor belt or in the appropriate location for further processing. This can be challenging with objects that have complex shapes, especially if they have unusual surfaces, materials, or weights that make it difficult to use magnetic or pneumatic tools.
Fieldview’s innovative solution is capable of solving these problems and performs well in both low-light and bright conditions. Its reliability in cluttered and uncontrolled environments makes it ideal for use in mixed human-robot environments, which are common in small production lines.
Cognivix has applied for a patent for the Fieldview system and has already received 950k in funding from Smart and Start Italia, Magic Spectrum and an equity crowdfunding campaign to turn the prototype into a product. The company has also established partnerships with leading manufacturers, such as FANUC, and has validated its business model with annual subscriptions starting at €12,000 for the vision system for one robot.
The global automation market is valued at around $200 billion and is growing at an annual rate of 5%. Automation is particularly popular in industries with high volumes and stable production, such as the automotive industry, as it allows for the automation of repetitive tasks and increases efficiency while reducing labor costs.
The machine vision market for robotics in manufacturing applications is estimated to be worth between 20-30 billion euros. There are approximately 10 million factories worldwide, with an average of 100 employees per factory. Assuming that 10% of these factories have processes automated with next-generation machine vision systems, and that each of these factories could employ an additional 10 robots and 10 vision systems to automate these processes, the market could be valued at approximately 30 billion euros in annual revenue from computer vision licenses.
This market is largely untapped, as recent developments in technology have only just made it possible for robots to manipulate complex objects with precision. Additionally, as artificial intelligence research continues to advance, the market is likely to continue growing.
The competitive landscape in the field of AI-driven robotics is dominated by university spin-offs that are bringing research results to industry and are expected to experience significant growth in the coming years. Most companies in this space have primarily focused on the warehousing and logistics sector, where the generalization of pick and place tasks is more straightforward than in factory assembly stages, which are still largely manual processes.
Traditional bin picking solutions based on laser triangulation are on the other hand typically slower, more costly and less flexible.
Cognivix’s Fieldview system is well-positioned to compete in this market with its innovative approach to automating the grasping of complex objects in small-scale production environments. Its patented data acquisition and labeling technology, combined with its reliability and ease of use, make it a valuable asset for manufacturers looking to increase efficiency and reduce costs.
The Cognivix team is composed of three seasoned professionals with complementary expertise in research, development, marketing, sales, operations, and excellence, supported by two exceptional advisors.
Daniele Bernardini serves as the CEO, bringing extensive experience as a researcher and coordinator in the field of robotics and AI at the Technical University of Munich, as well as an accomplished entrepreneur with a strong technical and financial background.
Giorgio Calapa, acting as the COO, offers valuable experience in project management and analysis from his time at renowned financial institutions such as Citibank, Societe Generale, and Bank of America.
Francesco Scalise, our VP of Sales, has a proven track record in business development and sales across various industries, showcasing exceptional leadership and performance in the growth of businesses.
Our advisory team consists of Prof. Caccamo, a world-renowned expert in cyber-physical systems and recipient of the prestigious Humboldt Award, and Dr. Tassini, a specialist in optical sensors and laser systems with a Ph.D. from the Technical University of Munich in Optical Physics and over 15 years of experience in industrial research. Their expertise and vision enable Cognivix to maintain a long-term perspective, ensuring the company stays at the forefront of innovation. Together, this exceptional team of founders and advisors combines their skills and knowledge to drive Cognivix towards success in revolutionizing the automation industry.
Cognivix is currently in the process of raising additional 150k-250k € at a valuation of 2.5M €. The investment would be matched by Magic Spectrum to complete the seed round The funds will be used to supplement the support we have already received from the Smart & Start Italia program the equity crowdfunding campaign and the initial investment by Magic Spectrum thus securing a 2-year runway to achieve product-market fit.
Our goal is to bring Fieldview, our innovative computer vision system for industrial robots, to market and help manufacturers increase efficiency, reduce costs, and streamline the process of training robots to handle new tasks. We believe that Fieldview has the potential to transform the manufacturing industry and are seeking the necessary funding to bring it to fruition.