Home Ideas Entrepreneurship & Small Business Milwaukee-based Golgix completes $1.2 million funding round

Milwaukee-based Golgix completes $1.2 million funding round

By
Ashley Smart
-
Nitin Ranjan, chief executive officer of Golgix.

Milwaukee-based artificial intelligence startup Golgix has raised an additional $1.2 million in funding. The round was led by Milwaukee-based Gateway Capital with participation from BrightStar Wisconsin and Milwaukee Venture Partners, according to an announcement from Gateway Capital. The total offering amount was $1.5 million, according to a filing with the Securities and Exchange Commission. Eight

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Ashley Smart
Ashley covers startups, technology and manufacturing for BizTimes. She was previously the managing editor of the News Graphic and Washington County Daily News. In past reporting roles, covering education at The Waukesha Freeman, she received several WNA awards. She is a UWM graduate. In her free time, Ashley enjoys watching independent films, tackling a new recipe in the kitchen and reading a good book.
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Milwaukee-based artificial intelligence startup Golgix has raised an additional $1.2 million in funding. The round was led by Milwaukee-based Gateway Capital with participation from BrightStar Wisconsin and Milwaukee Venture Partners, according to an announcement from Gateway Capital. The total offering amount was $1.5 million, according to a filing with the Securities and Exchange Commission. Eight investors participated in the round. Golgix is focused on using AI within the manufacturing sector to help eliminate unplanned downtime and production interruptions due to unforeseen process and equipment failures. Golgix offers turnkey AI software that predicts failures on automated production lines for manufacturers in the food and beverage, paper, plastics, consumer goods, electronics, and pharmaceuticals industries. Along with its predictions, the software provides engineers and operators intelligence that can be used to help prevent downtime through proactive operating parameter adjustments and maintenance. The AI software is deployed in just four weeks. Last August, Golgix closed a $600,000 seed round led by Gateway Capital. The company also received a $200,000 investment from the Idea Fund of La Crosse. Golgix is working to expand its Milwaukee-based technical team, build an advisory board and secure additional manufacturing clients.

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