Glasswing Portfolio Company Basetwo Raises $11.5M in Series A Funding
As an AI-originalist firm since its inception, Glasswing Ventures leverages its decades of investing and operator experience to follow a specific set of criteria when evaluating AI-native startups. We recognize that in order for an AI company to have industry-transforming power, it must be differentiated in its access to tech and data, address previously unsolvable challenges with the potential for high ROI, and fit into existing workflows. We seek founders who exhibit an acute understanding of the vertical in which they are building, acknowledge the importance of performance and error metrics in their products, and demonstrate a high ability to execute. When we met the founders of Basetwo, the Physics AI Platform for manufacturing, they satisfied all of our criteria. Having led the company’s Seed Round, we are proud to announce our continued support in its Series A fundraise and welcome lead investor AXA Venture Partners (AVP) alongside Deloitte Ventures, Global Brain Ventures, Shimadzu Corporation, Chiyoda Corporation, and UAE angel investors through Qora71.
Today’s pharmaceutical and chemical manufacturing engineers face pressure to reduce production costs and cycle time without compromising quality, but the rigid spreadsheets and legacy software they have historically used prevent collaboration and do not integrate with the rest of the enterprise tech stack. These antiquated procedures fail to provide a comprehensive picture of the company’s manufacturing process, its inefficiencies, and where risks for error lie. With the global pharmaceutical manufacturing market estimated to reach $913Bn by 2030, Basetwo is building a Physics AI Platform that provides manufacturing engineers with tactical recommendations for how to increase their teams’ productivity, reduce equipment spend, and maintain product quality.
Since raising its Seed round, Basetwo has built a robust AI copilot that integrates and cleans processing data from various data lakes and provides multiple dashboards for simple analysis. Engineers can then drag this data into Basetwo’s low-code interface to build machine learning (ML) models that help them optimize processes in real time, conduct predictive maintenance, and scale faster. Pharmaceutical companies leveraging Basetwo in their manufacturing processes have seen a 15-30% reduction in cycle time and a 10-20% reduction in batch failures.
Basetwo’s early success validates the team’s understanding of the manufacturing vertical and the importance of maintaining quality at scale. Founders Thouheed, Thamjeeth, Tawfeeq, and Kiefer Eaton have proven their ability to execute a vision, and we are thrilled to continue to support them as they enter their next growth phase, leveraging the new funding to accelerate the development of Basetwo’s Autopilot technology and expand further across the US, Europe, Japan, and the Middle East.
Read more about Basetwo’s fundraise here.