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 Fund
  • SE Ventures
  • Buckley Ventures
  • Matt Kraning

UnitX Overview

About UnitX

UnitX is a Shenzhen-headquartered provider of deep learning inspection solutions for automated manufacturing. Specializing in robotics and imaging, its systems detect defects in electronics and food products at speeds over 10,000 units per hour. UnitX serves Foxconn and other Asian factories. Established in 2019, it combines precision engineering with AI vision.


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 seed round 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 2019SeedWa’ed Ventures; KAUST Innovation Fund$2M-

Who has invested in UnitX?

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

Lead investors include UP Partners and SE Ventures.


UnitX Investors

Investors in UnitX by funding rounds participated
InvestorHQRoundsRoleFirst check
UP PartnersUnited StatesLos Angeles, CA2LeadOct 2021
Wa’ed VenturesSaudi ArabiaDammam1ParticipantOct 2019
KAUST Innovation FundSaudi ArabiaHail1ParticipantOct 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 The Bot Company, Relativity Space, Anthropic and OpenAI.

Public and private companies comparable to UnitX
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
The Bot CompanyUnited StatesSan Francisco, CAPrivate--$2B-
Relativity SpaceUnited StatesLos Angeles, CAPrivate--$4.2B-
AnthropicUnited StatesSan Francisco, CAPrivate$47B-$965B20.5x
OpenAIUnited StatesSan Francisco, CAPrivate$25B-$852B34.1x
SAPGermanyGermanyPublicly listed$42B$13B$248B5.4x
SnowflakeUnited StatesUnited StatesPublicly listed$4.7B($1.3B)$119B21.0x

UnitX Public Comps

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

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
CrowdStrike$4.8B($12M)51.4x44.5x(19816.2x)151.0x
SAP$42B$13B5.8x5.4x18.4x17.1x
Siemens$91B$15B3.0x2.9x18.1x15.7x
Salesforce$42B$13B5.5x5.2x17.8x12.2x
Schneider Electric$46B$9.5B4.3x3.9x21.0x18.4x
ABB$33B$6.9B5.4x4.9x25.9x22.6x
Hitachi$68B$11B2.2x2.2x13.8x13.5x
ServiceNow$13B$2.6B11.1x9.6x57.2x25.0x

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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 Fund, Buckley Ventures, Matt Kraning and SE Ventures.
Which companies are comparable to UnitX?Companies comparable to UnitX include The Bot Company, Relativity Space, Anthropic, OpenAI, SAP and Snowflake.

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