BMW i Ventures Leads Series A Investment in Optical AI Technology Company, Alitheon®

MOUNTAIN VIEW, Calif., September 20, 2022 /PRNewswire/ — BMW i Ventures today announced its lead investment in a $10M Series A cycle for Alitheon, an optical artificial intelligence technology company. The Enterprise FeaturePrint® The technology quickly and easily digitizes physical objects for irrefutable identification, authentication and tracing, and eliminates misidentification and misuse of items. BMW i Ventures has previously invested in the company’s seed round and is co-leading this investment round alongside Imagine Ventures, a Seattleventure capital based firm.

Counterfeits are a $2.3 trillion annual problem that continues to grow globally. By using additive and outdated solutions, such as stickers, barcodes and QR codes, to identify items, companies expose themselves to a high risk of loss of traceability and counterfeiting. Alitheon’s patented FeaturePrint technology creates for items what fingerprints are for people – a one-of-a-kind identifier that requires no modification of the item. By capturing an image of an item with a standard standard camera, the FeaturePrint optical AI “sees” and renders minute surface details of the item in its own unique profile. As a result, this enables efficient identification of the item among millions of others, guaranteeing the authenticity and provenance of the product.

“The counterfeit crisis is a major cause for concern – not just for economic reasons, but even more so with regard to personal safety,” said Marcus Behrendt, Managing Partner at BMW i Ventures. “Alitheon’s cutting-edge technology and ability to restore trust and security to supply chains is groundbreaking. After participating in Alitheon’s seed funding, we have seen the team’s growth and potential growth in its technology, and we are excited to lead its A-Series as they bring their product to market.”

Alitheon designed FeaturePrint to be easy to use, requiring no special hardware investment, manufacturing line changes, or physical changes to the item. Using just a standard camera, FeaturePrint enables irrefutable authentication, identification and traceability of individual items. By implementing FeaturePrint, counterfeits can be avoided, misidentification of parts is eliminated, and product misuse is minimized. FeaturePrint is the missing link connecting the digital and physical worlds.

Earlier this year, Alitheon named Roei Ganzarsky as the new CEO. Roei is a seasoned technology leader who previously served as CEO of magniX and Executive Chairman of Eviation, two disruptive companies in the aerospace and transportation industries.

“BMW i Ventures’ confidence and continued growing investment in Alitheon underscores the need across all industries for a solution that reduces both personal injury and financial risk, reducing the use of counterfeits and stopping the ‘misuse of critical parts due to human error,’ said Roei Ganzarsky, CEO of Alitheon. “This round of investment supports our ability to scale and meet significant demand, and having BMW i Ventures in our corner makes that even more important.”

Alitheon solves identification, authentication, and traceability challenges in many industries, including automotive, aerospace, collectibles, industrial manufacturing, luxury goods, medical, and precious metals. Its technology is already used by several customers and has been integrated into global operations. With the new capital, Alitheon aims to invest in new talent and accelerate its sales and marketing efforts to fuel the expansion of its FeaturePrint technology into more industries.

About BMW i Ventures

BMW i Ventures is the venture capital arm of BMW, which invests money and resources in startups in the areas of transportation, manufacturing, supply chain and sustainability. The company has made many successful investments over the years in companies such as Blackmore, Chargepoint, CelLink, Proterra, Solid Power, Tekion, Xometry and many more. BMW i Ventures invests in all stages, from seed to growth, with a focus on A/B series.

About Alitheon

Alithéon® is a Bellevue, Washingtonleader in advanced optical AI and creator of FeaturePrint®, a patented system connecting the physical and digital worlds through a secure and immutable link. For more information, contact Alitheon at [email protected].

SOURCE Alithéon / communications missionCTRL

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