UnitX Funding, Investors & Competitors

UnitX has raised $106M across 5 funding rounds, most recently a $46M Series B in November 2024.

See full UnitX profile

Last UnitX funding round

$46M

Series B · Nov 2024

Cumulative funding UnitX raised

$106M

across 5 funding rounds

Key investors in UnitX

  • UP Partners
  • Wa’ed Ventures
  • KAUST Innovation Ventures
  • SE Ventures
  • Buckley Ventures
  • Matt Kraning

UnitX Overview

About UnitX

UnitX develops artificial-intelligence machine-vision systems for automated inspection in manufacturing. Its current product suite combines software-defined imaging, edge computing and trainable AI models to detect and classify variable defects during production. OptiX captures two-dimensional and 2.5-dimensional features, CorteX trains and manages inspection models, and DeteX provides a deployable smart-camera product. Manufacturers use the systems to improve yield, reduce scrap, limit escaped defects and generate process insights. UnitX targets automotive, electric-vehicle battery, electronics, printed-circuit-board, connector and semiconductor production lines. Customers can integrate UnitX software with existing imaging equipment or buy imaging-plus-AI and turnkey inspection configurations. The company traces its origins to a KAUST spinout that initially commercialized cloud access to supercomputing capacity for enterprise AI and analytics workloads. UnitX earns business-to-business product, software and implementation revenue from industrial deployments.


Founded

2018

HQ

United StatesSan Jose, CA

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

UnitX Funding History

UnitX has raised a total of $106M across 5 funding rounds.

UnitX's first fundraising round was a $2M Series A in October 2019. The most recent completed round was a $46M Series B in November 2024.

UnitX funding rounds

UnitX funding rounds
DateStageInvestorsRaisedDeal Summary
Nov 2024Series BUP Partners (lead)$46MUnitX is a robotics company developing AI-powered vision systems for defect detection and quality management in manufacturing, particularly targeting sectors like electric vehicle and lithium-ion battery production. Their software-defined OptiX vision system and edge AI compute platform CorteX enable superior inspection capabilities compared to human inspectors or legacy machine vision, reducing scrap and improving yield. UnitX systems are deployed on production lines of top global manufacturers in Li battery and automotive industries, positioning it as a fast-growing player in AI quality inspection. The company has raised a total of $62M across multiple rounds, with the latest being a Series B of $46M on November 18, 2024, involving UP Partners among investors. UP Partners participated in this round and prior Series A investments. Investors include UP Partners (California-based VC), SE Ventures, and Schneider Electric, with UP Partners taking board seats. Earlier funding included a $5M investment from SE Ventures to expand geographic reach and accelerate deployment in high-growth manufacturing segments. The Series B funding supports further scaling in underserved markets anticipating capacity expansion.
Sep 2023Series ASE Ventures (lead)$5MUnitX is a robotics company developing AI-powered vision systems for quality and yield management in manufacturing. Its software-defined vision system OptiX and edge AI compute platform CorteX enable advanced defect detection, reducing scrap, improving yield, and upholding quality standards beyond human or legacy machine vision capabilities. On September 27, 2023, UnitX raised $5 million from SE Ventures, a Silicon Valley venture fund backed by Schneider Electric. SE Ventures led the investment to support UnitX's geographic expansion and mission to enhance manufacturing quality, traceability, and profitability, particularly in electric vehicle and lithium-ion battery sectors. UnitX's systems operate on production lines of top lithium battery and automotive manufacturers. CEO Keven Wang described UnitX as one of the fastest-growing players in its category, while SE Ventures' Varun Jain highlighted its product-market fit for delivering ROI to enterprise customers in expanding markets.
Jun 2023Series B-$41MUnitX is a robotics company developing next-generation AI vision systems, including its software-defined OptiX and edge AI compute platform CorteX, to automate visual defect detection in manufacturing. The technology targets sectors like lithium-ion batteries, electric vehicles, and automotive, improving yields, reducing scrap, and enhancing quality by outperforming human inspectors and legacy machine vision systems. Customers achieve significant ROI through faster defect detection and reduced cycle times. Earlier and later rounds include a $46M Series B announced via a SignalBase post, emphasizing scaling operations, product improvements, market expansion, and talent recruitment to automate repetitive factory inspection tasks using deep learning and robotics. A $5M investment from SE Ventures was announced on September 27, 2023, to expand geographic reach and leverage Schneider Electric's expertise in underserved markets like EV and battery manufacturing. Total funding raised across rounds is reported as $69.6M in later stage VC, with prior figures like $12M up to September 2021 and $28.7M for another entity. UnitX focuses on production lines of top global manufacturers, with SE Ventures highlighting its superior product-market fit.
Oct 2021Series AUP Partners (lead); Buckley Ventures; Matt Kraning$12M-
Oct 2019Series AKAUST Innovation Ventures (lead); Wa’ed Ventures (lead)$2MUnitX closed a $2 million financing on October 10, 2019, backed jointly by KAUST Innovation Fund and Saudi Aramco's Wa'ed Ventures Fund. At the time of the round, UnitX was a KAUST spinout building a cloud-based supercomputing service intended to help enterprises deploy artificial intelligence and high-performance data analytics without owning costly computing infrastructure. The company partnered with institutions that had spare supercomputing capacity and made that capacity available through an easier-to-use cloud model. KAUST said the capital would support rapid team expansion, business development, and service for large customers and small and medium-sized enterprises. UnitX was targeting organizations in finance, insurance, retail, government, supply chain, oil and gas, healthcare, and manufacturing. The company had publicly launched its platform in May 2019 and had already formed supercomputing and technology partnerships with universities and industry organizations. KAUST's annual report identified the financing as a Series A and noted that $1 million of the total represented co-investment from Wa'ed Ventures.

Who has invested in UnitX?

6 investors have backed UnitX across its funding rounds, including UP Partners, Wa’ed Ventures, KAUST Innovation Ventures, SE Ventures, Buckley Ventures and Matt Kraning.

Lead investors include UP Partners, SE Ventures, KAUST Innovation Ventures and Wa’ed Ventures.


UnitX Investors

Investors in UnitX by funding rounds participated
InvestorHQRoundsRoleFirst check
UP PartnersUnited StatesLos Angeles, CA2LeadOct 2021
Wa’ed VenturesSaudi ArabiaDammam1LeadOct 2019
KAUST Innovation VenturesSaudi ArabiaThuwal1LeadOct 2019
Buckley VenturesUnited StatesSan Francisco, CA1ParticipantOct 2021

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UnitX Competitors

UnitX competitors include listed companies like SAP and Snowflake, and private ones like Relativity Space, Anthropic, OpenAI and Databricks.

Public and private companies comparable to UnitX
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Relativity SpaceUnited StatesLos Angeles, CAPrivate--$4.2B-
AnthropicUnited StatesSan Francisco, CAPrivate$47B-$965B20.5x
OpenAIUnited StatesSan Francisco, CAPrivate$25B-$852B34.1x
SAPGermanyGermanyPublicly listed$41B$13B$273B6.1x
DatabricksUnited StatesSan Francisco, CAPrivate$7B-$190B27.1x
SnowflakeUnited StatesUnited StatesPublicly listed$4.7B($1.3B)$97B16.4x

UnitX Public Comps

UnitX is still privately-owned, but its public comps include SAP, IBM, Siemens, CrowdStrike, Salesforce, Schneider Electric, ABB, Hitachi, Mitsubishi and Keyence.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
SAP$41B$13B6.6x6.1x20.9x19.0x
IBM$68B$17B4.3x4.1x17.3x14.5x
Siemens$88B$15B3.0x2.8x18.0x15.5x
CrowdStrike$4.8B($12M)45.3x38.0x(17454.4x)127.1x
Salesforce$42B$13B5.0x4.6x15.9x10.8x
Schneider Electric$45B$9.2B3.7x3.4x18.2x15.5x
ABB$33B$6.9B4.5x4.0x21.8x18.2x
Hitachi$67B$11B1.8x1.7x11.3x10.7x

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Common questions about UnitX

When was UnitX founded?UnitX was founded in 2018.
Where is UnitX headquartered?UnitX is headquartered in San Jose, CA, United States.
Is UnitX publicly listed?No, UnitX is a private, VC-backed company.
How much funding has UnitX raised?UnitX has raised $106M across 5 funding rounds.
What was UnitX's last funding round?UnitX's last funding round was a $46M Series B in November 2024, led by UP Partners.
Who are UnitX's investors?UnitX's investors include UP Partners, Wa’ed Ventures, KAUST Innovation Ventures, Buckley Ventures, Matt Kraning and SE Ventures.
Which companies are comparable to UnitX?Companies comparable to UnitX include Relativity Space, Anthropic, OpenAI, SAP, Databricks and Snowflake.

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