T-DAB.AI will open in Romania in 2023 offices for support, programming and sales
A group of Romanian and English financiers invests 50,000 Euros through the business angels (BA) platform Growceanu in T-DAB.AI, a British deep tech company in a round worthing 600,000 Euros. The other financiers are private investors from the United Kingdom.
The investment will be used to accelerate the development of the OctaiPipe product, for sales and marketing.
T-DAB.AI is the developer of OctaiPipe, a decentralized artificial intelligence platform for the Internet of Things (IoT) powered industrial businesses. The company was founded in 2016 by Dr. Eric Topham – CEO & Data Science Director – and Paul Calver – CFO & Digital Manufacturing Director. Before this financing, the company was valued at 5.8 million euros.
Target: The transformation of Internet of Things (IoT) powered industrial businesses through AI
T-DAB.AI aims to use decentralized artificial intelligence to change the developing way of industrial companies based on the Internet of Things (IoT).
Artificial Intelligence and Machine Learning can deliver high ROI and new revenue sources across many applications in the industry. Still, its widespread adoption is hampered by a lack of suitable machine learning infrastructure and the need to centralize data, leading to privacy risks, high costs, overdependence on cloud platforms and network availability.
OctaiPipe, the product developed by T.DAB.AI, is a paradigm shift for the artificial intelligence solutions used by industrial businesses. It reduces operating costs maintenance through Predictive Maintenance PreM@OctiaPipe, as well as privacy risks, network costs and dependence on the Cloud. Customers can buy pre-built solutions or develop their own to deploy and scale on OctaiPipe.
“We invested in T-DAB.AI because it is a company created by an excellent team, by people who are very well-trained in business, technology and sales. They have also developed a solid set of innovative products and services in a technical field applicable in many industries, including production, energy, automotive, smart buildings, heating and ventilation systems. The solution is already validated, the current sales are excellent and have very high traction”, says Ciprian Man, one of the investors and founders of Growceanu.
T-DAB.AI plans to develop new products this year, add customers and develop new business verticals such as smart energy or predictive maintenance solutions.
“T-DAB.AI aims to reduce the operating expenses for the industrial, energy, and IoT segments through a combination of innovative AI and ML assets and efficient processes and automation. T-DAB.AI has a great team and very ambitious plans that checked my boxes. And for these reasons, I decided to invest in the company”, says Sebastian Ivan, one of the investors.
“We’re hugely excited to have accelerated the next evolution of T-DAB.AI through this funding round. This is a big step towards bringing our revolutionary distributed Edge AI solution, OctaiPipe, to the market. We’re delighted to have added a fantastic group of investors to our team”, said Dr. Eric Topham, CEO & co-founder of T-DAB.AI.
Support and engineering office in Romania since 2023
Starting in 2023, T-DAB.AI plans to open offices for support, engineering and sales in Romania, Austria and Germany.
The company has customers in the UK and Romania, and from 2023 aims to expand to other EU countries, especially Germany, Austria and Switzerland. Also, from 2025 the founders want to expand commercially in the US.