A startup that aims to become the “Palantir for factories” has just secured $7 million in seed funding.
San Francisco-based Endeavor, launched by 22-year-old Sahitya Senapathy, is developing an AI platform to help modernize manufacturing firms.
“We deeply embed with traditional manufacturers — think industries that are often overlooked, like steel or construction products or auto, and we automate core operational hurdles for them in sales or supply chain or operations across the enterprise,” Senapathy told Business Insider.
Growing up in a family that worked in the automotive industry, Senapathy says he “noticed the disconnect between the executives and the folks on the front lines.” Endeavor aims to automate many of the manual tasks in the industry, which otherwise consume a lot of time.
The startup uses large language models to automate administrative manufacturing processes, such as purchase orders, invoices, and shipping notices.
Its platform ingests unstructured data — datasets containing many different types of data types, such as invoices and orders — and organizes it. This, Endeavor says, lets companies automate sales, make inventory planning more efficient, and automate supply chains.
Endeavor brings in revenue by offering annualized contracts, with some volume based on the data it processes for the company. It then provides an opportunity for C-suite executives to expand Endeavor’s tools across the enterprise.
As a Gen-Z founder, Senapathy says his “fresh perspective” was welcomed by his older counterparts in the industry.
“When we think about American manufacturing and revitalizing the manufacturing base, one of the biggest challenges is that folks are retiring, and there just aren’t many young people going into the industry,” he told BI. “So I can’t tell you the countless number of people that tell me they want young folks coming into the industry, bringing fresh, new ideas, bringing AI and new technology that they’re not familiar with.”
Craft Ventures led Endeavor’s $7 million seed round, which included participation from Heartland Ventures, Contrary Capital, BoxGroup, and senior executives from data company Palantir and cloud giant Amazon Web Services.
With the cash injection, Endeavor will expand its engineering team and develop its go-to-market strategy.
Check out the 9-slide pitch deck it used to secure the fresh funds.
The post Endeavor is using AI to modernize manufacturing. Check out the 9-slide deck it used to raise a $7 million seed round. appeared first on Business Insider.
