Noetive Raises $41Mn to Build AI for the Physical Economy

What is Noetive?

Noetive is a San Francisco-based AI company building technology for businesses that operate in the physical world. Its target industries include manufacturing, logistics, energy and data centers.

The company is developing an AI system that learns how a business operates and works with existing enterprise tools. It combines this system with multi-modal sensing pods that help the AI understand conditions in physical environments.

Noetive aims to help companies coordinate people, machines, inventory and other operational systems while adapting to changing conditions.

How Much Funding Has Noetive Raised?

Noetive has raised $41M in its Seed funding round. The round was led by Eclipse, with participation from Craft Ventures, The Westly Group, Swish Ventures, Factory, Incite Ventures, Gigascale Capital, Operator Partners and Liquid 2 Ventures.

Who Invested in Noetive's Seed Round?

Eclipse led the Seed round. Other participating investors include Craft Ventures, The Westly Group, Swish Ventures, Factory, Incite Ventures, Gigascale Capital, Operator Partners and Liquid 2 Ventures.

The round also included several technology executives and founders as angel investors. These include Meta CTO Andrew “Boz” Bosworth, Airbnb CTO Ahmad Al-Dahle, Nest co-founder Matt Rogers, Gigascale Capital founder Mike Schroepfer and the co-founders of Decart AI.

Why the Funding Matters

Noetive will use the new funding to conduct research into self-improving AI designed for physical operations. The company also plans to test and develop its technology through work with real-world business partners.

The funding will support the company's research and engineering team as it hires AI researchers and full-stack AI engineers.

Who founded Noetive?

Noetive was founded by Amir Frenkel and Dan Barak. Frenkel serves as CEO, while Barak is the company's Chief Product Officer.

Frenkel previously spent nearly a decade as a vice president at Meta and also held leadership roles at Alphabet and Amazon. He also serves as Chief AI Officer at Eclipse. Barak previously served as vice president of product at web development platform Netlify.

Noetive is headquartered in San Francisco, while the company has strong ties to Israel through its founders, team and investors.

Market and Business Growth

Noetive has emerged from stealth five months after its founding and is already working with strategic design partners across manufacturing, logistics, energy and data centers.

One of its design partners, Steuben Foods, said the company's technology has changed its production planning process. Planning that previously took a week and was done monthly can now be carried out daily in minutes, according to Steuben Foods CEO Menachem Katz.

Noetive's technology is designed to become more capable through deployment by combining AI reasoning with information collected from its sensing systems.

What Happens Next?

Noetive plans to continue developing self-improving AI for physical operations and prove its technology through deployments with selected design partners.

The company is also expanding its research and engineering team and hiring AI researchers and full-stack AI engineers to develop its technology for the physical economy.

Leadership Statements

"AI will transform and reimagine the potential of companies in the physical economy, but current AI solutions were designed for information work living on the internet," said Amir Frenkel, CEO and co-founder of Noetive. "Unlocking that potential requires intelligence that learns alongside the operators running the physical business, coordinating people, machines, and digital systems so every decision makes the entire operation smarter. Noetive is an AI NeoLab for operational technology to bring that intelligence into the real world."

"Production planning has always been one of the most time-consuming parts of running our business because even small changes ripple across the operation," said Menachem Katz, CEO of Steuben Foods. "By understanding both the data in our systems and what's happening on the factory floor, Noetive gives us the ability to continuously plan and adapt as conditions change. Work that once happened monthly and took a week of planning now happens daily and takes minutes, allowing us to respond to new orders and changing market conditions in real time. It's fundamentally changed the way we run our business."

Read Also - Loora Raises US$22 Mn Series B to Expand AI-Powered English Learning App