Zurich, 26th September, 2024, 07:00 BST / 08:00 CEST - Orderfox, a Swiss AI scaleup that develops multisector industrial research and analytics solutions, has received a company valuation of over one billion euros from the independent M&A specialist consultancy Trown Partners.
Orderfox develops and operates intelligent AI-based solutions that significantly increase efficiency and precision in the business and production areas of industry, including for manufacturing, robotics, supply chain, and construction.
The company's products include Partfox, the world's largest AI-based matching network for the manufacturing industry, and Gieni, the world’s first AI agent that provides in-depth market insights into all industrial sectors in just a few seconds.
Orderfox was founded in 2016 and has to date been financed exclusively by shareholders.
Gieni: Big data market analysis for all industries
Orderfox’s Gieni, which full-launched its v2 earlier this month, enables companies to carry out AI-powered industry analyses, business optimisations, and competitive analyses with extraordinary speed and cost-efficiency.
This can be seamlessly integrated into existing CRMs, giving businesses valuable, up-to-date information where it best suits them. As a B2B AI agent, Gieni aggregates the entire accessible internet to analyse in-depth information and create unique and exclusive databases for its users. Gieni can rapidly develop an entirely new knowledge base about a specific sector or subsector, which would otherwise have to be created by humans through extensive scientific and research work.
An AI chatbot such as Gemini or ChatGPT is limited by predetermined patterns to conducting conversations and responding to queries with predefined answers, and can only search for existing data and answers on the internet. Conversely, as an AI agent, Gieni uses dynamic processes and algorithms to make autonomous decisions and perform more complex tasks independently. AI agents can take proactive actions, while a chatbot is mainly used for customer interaction and support.
Uniquely, Gieni aggregates data and can place the content in the right context. Gieni uses techniques such as GraphRag and Large Language Models to not only understand user queries, but also to break them down into their component parts and query them in multiple stages.
This means that a single question can trigger several hundred queries simultaneously. For every question that users ask the chatbot, it provides intelligent, in-depth answers and generates clear, interactive dashboards that are visualised with easy-to-understand graphics and diagrams.
Orderfox started Gieni as a B2B agent specifically for the manufacturing and mechanical engineering industry. However, Gieni is now able to create specialised databases for all industries, and the company continues to expand the information in each database. The AI adapts to the requirements of these specific industries and can therefore develop a deep understanding of each sector.
Partfox: Innovative AI solutions for industry
Through Partfox, Orderfox offers a solution that is revolutionising the procurement process in the manufacturing industry. As the world's largest AI-based CNC network, Partfox optimises the networking of manufacturing companies and enables a direct connection between manufacturers and buyers.
The platform takes into account technology and production requirements, materials, tolerances, surface finishes and inspection standards to find the ideal match. By automating the matching process, procurement processes can be accelerated by up to 40 per cent. Partfox not only serves the CNC industry, but also covers the entire metalworking sector as well as the processing of plastics and wood. The development of further sectors is already firmly
planned.
Timur Göreci, CRO at Orderfox Schweiz AG, on the valuation:
"Our company valuation of over one billion euros marks a significant milestone and illustrates the strength of our technology. This enables us to provide companies in a wide range of industries with crucial data.
The next step is now to commercialise our products in order to fully exploit the enormous growth potential. With our AI-based solutions, we enable companies of all sizes and in all industries to obtain precise and targeted answers to business-critical questions. In this way, we make a decisive contribution to the automation of knowledge-based activities and significantly advance white-collar automation in theB2B sector."
Patrick Eggimann, Partner at Trown Partners AG, comments:
"The evaluation of Orderfox Schweiz AG underlines the enormous potential of its innovative AI-based solutions. Orderfox has managed to take on a technological pioneering role in the industry. Gieni and its specialised databases will play a central role in many industries in the future. This billion-euro valuation reflects not only the company's current growth, but also its promising long-term prospects."
About Orderfox
Orderfox focuses on the innovation needs of the B2B and industrial sectors. The company develops, implements and operates intelligent AI-based solutions to make business and production areas more efficient, faster and more precise.
Orderfox's two AI-based products, Partfox, the world's largest AI-based CNC network, and Gieni, the intelligent big data engine for in-depth market insights, are specifically designed to fulfil the current and, above all, future requirements of the industry.
Orderfox relies on the power of artificial intelligence to realise ideas. Specially developed algorithms change and optimise processes and decisions based on sound data. Orderfox's target markets cover all B2B and industrial sectors. Initially, the focus was on the CNC manufacturing industry.
Thanks to the unique technology of Gieni, the AI B2B agent now provides in-depth market insights into all industrial sectors by creating specialised databases.
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