DETROIT, Sept. 15, 2021 /PRNewswire/ -- DeepHow, the AI
company that turns technical know-how into smart, how-to training
videos, has closed $9M in pre-Series
A funding. Sierra Ventures, a specialist in early-stage VC funding,
led the round with participation by Osage Venture Partners,
Qualcomm Ventures LLC, and pre-seed investor Foothill Ventures.
DeepHow's total funding now stands at $13M million. The company will use this
additional funding to solidify its technical lead, accelerate its
market expansion in Asia, and fuel
its enterprise sales and marketing initiatives.
"This oversubscribed pre-Series A round underscores the vision
we share with our investors and demonstrates their confidence in
our ability to build on our technical leadership and accelerate our
go-to-market operations," said Dr. Sam
Zheng, CEO and co-founder of DeepHow.
DeepHow combines the latest advances in AI, natural-language
processing, computer vision, and knowledge mapping to revolutionize
how knowledge is captured, digitized, and organized. The
company has developed and markets an AI-powered workforce
readiness platform for the skilled trades. Designed for the
manufacturing, field service, construction, and equipment
maintenance sectors, DeepHow streamlines the capture and transfer
of technical skills and know-how — compressing project time
ten-fold, boosting worker performance by 25 percent, and
dramatically reducing overall training and development costs.
Commenting on the market potential for DeepHow, Zheng said:
"Manufacturing is the economic backbone of many countries and the
largest driver of employment. The top-ten largest manufacturing
countries in terms of economic output employ an average of 15% of
their workforce—12 million in the US, 8 million in Germany, 10 million in Japan, and over 110 million in China. We see an enormous opportunity to equip
manufacturers globally with advanced and proven technology to help
them up-skill and re-skill these workers."
"Sam and his experienced team at DeepHow have developed
breakthrough technology that is already delivering a clear ROI in
enterprise manufacturing settings," said Ben Yu, managing partner at Sierra Ventures.
"DeepHow is seeing strong market tailwinds due to the rapid changes
in technology, an aging workforce, and the shortage of skilled
workers in the global manufacturing and service industries. There's
a clear opportunity for the team to establish DeepHow as the
leading knowledge capture and training platform for the
manufacturing and service industries."
"The DeepHow platform delivers a highly differentiated solution
for building scalable and effective training for the industrial
workforce," said Nate Lentz,
managing partner of Osage Venture Partners. "Leveraging advanced AI
technology and the team's deep domain expertise, DeepHow is
uniquely positioned to solve the growing skills gap and labor
shortage in skilled trades. DeepHow has already delivered real
value and ROI to leading manufacturer customers, and we are excited
to partner with the team to help further their leadership position
in the market."
"The high costs of training and developing a new, skilled
manufacturing workforce calls for more efficient employee
onboarding and task performance," said Carlos Kokron, vice president of Qualcomm
Technologies Inc. and managing director at Qualcomm Ventures
Americas. "DeepHow's AI-powered, cost-effective video-based
knowledge capturing and learning platform significantly improves
the speed of know-how transfer, helping bridge the skills gap.
We're excited to invest and support DeepHow in leveraging AI
to further advance the Industry 4.0 digital transformation of
DeepHow was founded in 2018 by a team of
ex-Siemens researchers and engineers who saw an unmet need to
transfer knowledge in the skilled trades labor market. They
developed an AI-powered, video-centric knowledge capturing and
learning platform that bridges the skills gap in the manufacturing,
service, and construction industries. DeepHow streamlines know-how
capture using AI workflow indexing and segmentation at one-tenth
the time of traditional video-editing approaches, and powers
knowledge transfer with smart, how-to training videos that boost
employee performance by 25 percent. For more information, visit
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SOURCE DeepHow Corporation