Milwaukee-based Golgix has developed AI software that predicts failures on automated production lines for manufacturers in industries such as food and beverage, paper, plastics, consumer goods, electronics, and pharmaceuticals. According to the company, unplanned downtime costs manufacturers hundreds of production hours and approximately 6% of their annual revenue.
The growing company announced it has closed $600,000 in seed funding. Gateway Capital Partners led the round with a $400,000 investment, and Idea Fund of La Crosse followed with an additional $200,000. Golgix is a minority-owned business, and a Wisconsin Economic Development Corporation approved Qualified New Business Venture.
With its new funding, Golgix plans to expand its Milwaukee-based technical team, build an advisory board, and secure key manufacturing clients in the Milwaukee area and beyond.
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