{"id":4523,"date":"2024-05-20T08:16:26","date_gmt":"2024-05-20T00:16:26","guid":{"rendered":"https:\/\/www.kmp.vc\/porter\/?p=4523"},"modified":"2024-05-28T08:25:20","modified_gmt":"2024-05-28T00:25:20","slug":"kmp-invests-in-ai-powered-automated-quality-inspection-solutions-provider-evlos","status":"publish","type":"post","link":"https:\/\/kmp.vc\/porter\/kmp-invests-in-ai-powered-automated-quality-inspection-solutions-provider-evlos\/","title":{"rendered":"KMP invests in AI-powered automated quality inspection solutions provider, Evlos"},"content":{"rendered":"<p style=\"text-align: center;\"><strong>KMP&#8217;s investment will be used to scale up the team and R&amp;D to support Evlos\u2019 growing business<\/strong><br \/>\n<strong>Evlos offers AI-powered quality inspection solutions for various sectors, leveraging computer vision and automation.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><img decoding=\"async\" class=\"aligncenter wp-image-4524\" src=\"https:\/\/www.kmp.vc\/porter\/wp-content\/uploads\/2024\/05\/Picture-1.jpg\" alt=\"\" width=\"728\" height=\"426\" srcset=\"https:\/\/kmp.vc\/porter\/wp-content\/uploads\/2024\/05\/Picture-1-200x117.jpg 200w, https:\/\/kmp.vc\/porter\/wp-content\/uploads\/2024\/05\/Picture-1-300x176.jpg 300w, https:\/\/kmp.vc\/porter\/wp-content\/uploads\/2024\/05\/Picture-1-400x234.jpg 400w, https:\/\/kmp.vc\/porter\/wp-content\/uploads\/2024\/05\/Picture-1.jpg 451w\" sizes=\"(max-width: 728px) 100vw, 728px\" \/><\/p>\n<p style=\"text-align: left;\"><strong>KUALA LUMPUR, 20 May 2024<\/strong> &#8211; <a href=\"https:\/\/www.kmp.vc\">Kumpulan Modal Perdana (KMP)<\/a>, the tech-focused venture capital owned by the Minister of Finance (Incorporated) in Malaysia and under the purview of the Ministry of Science, Technology &amp; Innovation (MOSTI), has recently invested in <a href=\"https:\/\/www.evlos.ai\/aboutus\">Evlos<\/a>, a provider of end-to-end AI-powered computer vision solution for automated quality inspections. In this funding round, KMP has emerged as Evlos\u2019 most recent investor where the funding will be utilised to expand its team to support its growth trajectory.<\/p>\n<p style=\"text-align: left;\">Founded and developed in Malaysia, Evlos\u2019s core focus is providing AI-based solutions through their cutting-edge zero-code computer vision software and automation hardware to empower manufacturers to completely automate and streamline their quality control (QC) inspection. Evlos\u2019s advanced solutions can significantly benefit companies that still rely on manual labour for QC detection of their products and materials by reducing labour costs and increasing accuracy and efficiency<\/p>\n<p style=\"text-align: left;\"><strong>The Chief Executive Officer of Evlos, Shankar Ramanathan<\/strong>, shared, <em>\u201cWe are proud to welcome KMP as our investor in this round of funding. Backed by KMP\u2019s funding as well as its expertise and extensive network in Malaysia, it serves as a testament to KMP\u2019s trust in our potential, validating our hard work. We are committed to fostering strategic business growth and empowering Malaysia\u2019s manufacturing industry with accessible, high-quality computer vision and automation technology to automate their quality inspection. We also look forward to equipping more SMEs across different industries with our effective solutions so they can scale up their businesses without compromising quality. We are grateful for KMP\u2019s support and we hope that this funding will catalyse our growth further\u201d.<\/em><\/p>\n<p style=\"text-align: left;\">Initially founded in 2019 as Cedar Technologies Sdn Bhd, the company was recently rebranded to Evlos Sdn Bhd in 2022. The startup is making a conscious effort to explore and tap into underserved markets, including SMEs, to proactively bridge the gap that exists in automation adoption in manufacturing. Evlos proudly develops its end-to-end solutions in-house, from designing, and manufacturing to programming. Furthermore, the Evlos Vision software is integrated with real-time analytics to explore accurate detection during the production of complex products. Along with its unique 24\/7 sales support, Evlos stands out in the market by offering top-of-the-line solutions without sacrificing quality<\/p>\n<p style=\"text-align: left;\"><em>\u201cKMP is thrilled to be supporting such an innovative company as Evlos and to be a part of an enterprise leading the development of comprehensive solutions for quality inspection automation across sectors. We strongly believe in Evlos\u2019 potential to grow further in the market, being the only establishment to offer a fully integrated in-house solution for quality inspection automation at a competitive price. Our vision is to ensure that the team behind Evlos can scale alongside their business in the coming years,\u201d<\/em> added <strong>KMP\u2019s Chief Executive Officer, Yarham Yunus.<\/strong><\/p>\n<p style=\"text-align: left;\"><strong>Addressing manufacturing challenges through automation<\/strong><\/p>\n<p style=\"text-align: left;\">Over recent months, the manufacturing sector has had a positive change in adopting automation, especially in <a href=\"https:\/\/www.marketsandmarkets.com\/Market-Reports\/defect-detection-market-124751233.html#:~:text=What%20is%20the%20current%20size,7.5%25%20during%202021%E2%80%932026.\">defect detection<\/a>. The industry is slowly shifting its focus to incorporating more technological advancements during manufacturing and quality control processes. This is evident in the Global Defect Detection Market, showing an <a href=\"https:\/\/www.globenewswire.com\/news-release\/2021\/12\/27\/2357975\/0\/en\/Global-Defect-Detection-Market-By-Component-By-Application-By-Vertical-By-Regional-Outlook-Industry-Analysis-Report-and-Forecast-2021-2027.html\">estimated growth of 6.6%<\/a> in CAGR by 2027. These companies are beginning to see how their recurring problems can be solved with the help of technology. For example, defect detection can help minimise defects in manufactured goods, contributing to a reduction of waste in cost and resources. Automation is now emerging as <a href=\"https:\/\/isg-one.com\/articles\/top-5-manufacturing-priorities-2024\">one of the key priorities in manufacturing<\/a> for its numerous benefits, especially in increasing efficiency, optimising resources, maintaining the quality of manufactured goods, as well as reducing production and labour costs.<\/p>\n<p style=\"text-align: left;\">Additionally, manufacturers and other businesses across industries are seeking better solutions that can help them access real-time data analytics and insights to significantly improve their processes with an easier learning curve that requires little to no knowledge of coding accompanied by a comprehensive interface. Evlos helps by providing no-code AI-powered computer vision solutions with an extensive and integrated library of tools for a wide range of use cases suited for all industries.<\/p>\n<p style=\"text-align: left;\">With Evlos\u2019 AI-powered computer vision and automation solutions, manufacturers can improve their operational efficiency, reduce labour costs, reduce rework expenses, minimise errors, as well as boost productivity. On top of that, Evlos&#8217; automation benefits include enhanced efficiency, reduced manual labour reliance, lower rework costs, and fewer customer complaints. Additionally, Evlos\u2019 hardware solutions are powered by <strong>Evlos Vision Software (EVS)<\/strong>, the company\u2019s in-house AI-based computer vision software with deep learning capabilities, allowing the startup to enable advanced defect detection and precise quality control while also being seamlessly integrated into various inspection processes across industries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KMP&#8217;s investment will be used to scale up the team [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[29],"tags":[],"class_list":["post-4523","post","type-post","status-publish","format-standard","hentry","category-corporate-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>KMP invests in AI-powered automated quality inspection solutions provider, Evlos - 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