Datch, a New York-based AI technology company specializing in solutions for frontline manufacturing, energy, and utility sectors, has closed $15 million in Series A via an extension.
Investors
The round was led by Third Prime, an early-stage venture capital firm based in New York and Nashville, specializing in industrial and financial technology. With extensive public and private market investing experience, Third Prime provides strategic and financial guidance to exceptional entrepreneurs. The firm focuses on high-conviction themes, builds concentrated portfolios, and partners closely with founders to achieve superior outcomes.
Datch Use of Funds
The company plans to use the newly secured funding to invest in market expansion within the enterprise sector while increasing capabilities within the Asset Insights toolkit.
About Datch
Datch provides a frontline intelligence platform for industrial operations. Using AI designed for the asset management environment, Datch digitizes, structures, and streamlines work management processes while enabling deskless teams to capture 10x more data. By leveraging LLM and graph technology, Datch transforms unstructured, disparate information within organizations into actionable insights that drive operational outcomes. With offices in the US and New Zealand, Datch has introduced its technology to a growing list of Fortune 500 companies and other industry-leading enterprises in the utilities, energy, manufacturing, mining, and aviation sectors.
Funding Details
Company: Datch, Inc.
Raised: $15.0M
Round: Series A Extension
Funding Month: August 2024
Lead Investors: Third Prime
Additional Investors:
Company Website: https://www.datch.io/
Software Category: Asset Management
Source: https://www.businesswire.com/news/home/20240807738419/en/