RCS - Flojoy, Inc. - Flojoy Announces $1.3M in Seed Capital

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29/08/2023 16:15

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RNS Number : 5130K  Flojoy, Inc.  29 August 2023

Flojoy Announces $1.3M in Seed Capital From Flybridge Capital Partners, Boreal
Ventures, and BDC Capital

Plotly Co-founder and former CEO creates Flojoy, the first no-code test,
measurement software

MONTREAL, QC / ACCESSWIRE / August 29, 2023 / Today, Flojoy announces an
oversubscribed seed round of $1.3 million USD from Flybridge Capital Partners,
Boreal Ventures, and BDC Capital to disrupt the test, measurement, &
control (TMC) market with its open-source, Python-based AI software. TMC is
the bedrock of every research and development "hard-tech" laboratory and
software enterprise. Over the past century, there would have been zero applied
science and manufacturing progress without the invention of the computer and
its application to sense and control physical spaces. Now, TMC UX will undergo
a renaissance, building off of the last decade of open-source software
innovation.

Related Image
(https://cdn.newswire.com/files/x/a2/18/ffe20120c53d5ef1926370de2b73.jpg)

"Test, measurement, and control (TMC) has been absolutely fundamental to every
industrial manufacturing breakthrough, but the software has been in the
relative dark ages," said Jack Parmer, Founder and CEO of Flojoy. "Today's
scientists, engineers, data scientists and business analysts deserve better
and no-code software to scale efficiently."

Test, measurement, and control (TMC) and artificial intelligence (AI) are
natural bedfellows. While TMC is concerned with sensing and responding to data
from the physical world, AI is concerned with using vast troves of data to
refine machine learning (ML) models for domain-specific mastery. Already,
resourceful scientists and engineers are applying foundational ML models to
textbook TMC use cases in every field: microscopes that ship with automatic
object identification, computer-vision cobots that perceive and respond to
their environments in real time, and oscilloscopes that learn to predict
signals.

"Flojoy is applying the open-core/open-source model to software for heavy
industry and deeptech. We're thrilled to watch them accelerate the world's
largest R&D institutions with this approach - just like Jack and his team
did at Plotly," said Hassan Bhatti, Partner at The Community Fund, a Flybridge
Network Fund.

Prior to founding Flojoy, Jack Parmer led the creation of Domino Data Lab's
Code Assist, a low-code capability to democratize advanced analytics using
Python and R.

"Since founding Plotly, Jack Parmer has been an unstoppable moving force in
scientific Python," said Nick Elprin, CEO and co-founder of Domino Data Lab.
"I'm excited to see him continue to expand cutting-edge options to build and
operate AI at scale."

At age 26, Parmer founded Plotly, the de facto interactive data visualization
software for scientists working in Python and R, where he led the company as
CEO through $18M in fundraising, $10M in annual recurring revenue, and created
the "python code to web app" category, growing virally to 200 million software
downloads under his tenure. Plotly helped to modernize numerical computing by
making one of its pillars (data visualization) free, interactive,
exceptionally well documented, and more complete in capabilities than most
scientific charting software before it.

"With Plotly, Jack created a highly successful open-source data science
company. The test, measurement, and control space is important to our fund and
our portfolio companies, and we're excited to partner with Jack and his team
on their next open-source chapter, Flojoy," said Charles Lespérance, Partner
at BDC Capital's DeepTech Fund.

Flojoy intends to use the seed investment to hire more engineers to build out
first-class Python support for over 700 benchtop scientific instruments and
microcontrollers, which will usher in a new era of open-source TMC
standardization. Its first major customer is a U.S. electric aircraft
manufacturer. Heavy industry and hard-tech titans like Hitachi, Ford, Boeing,
SpaceX, Intel, and Medtronics are all essentially TMC companies at their core
and Flojoy hopes to help.

With Plotly, Jack has shown his ability to foresee fundamental trends in the
open-source community, hire world-class talent, and build what is now a pillar
in the Python community. Floyjoy expands on the same traits that made Plotly a
success, in what we believe is a market ripe for innovation," adds David
Charbonneau, Managing Partner at Boreal Ventures.

About Flojoy

Flojoy provides no-code, open-source, Python-based AI software for the test,
measurement, & control (TMC) market. The Flojoy Studio is a drop-in
replacement for engineering software such as LabVIEW, Simulink, RapidMiner,
and Alteryx. Learn more at https://www.flojoy.ai/
(https://pr.report/kQYygfGR) .

Download & Quickstart: https://docs.flojoy.ai
(https://pr.report/8Ok3cIUF)

Friendly help: https://community.flojoy.ai (https://pr.report/mknVwHMq)

Demo videos: https://www.youtube.com/@flojoy_ai (https://pr.report/rIZyAgN2)

‍Student Ambassador Program: University students only
(https://pr.report/Fc6h1aYR)

Media contact: media@flojoy.io (mailto:media@flojoy.io)

Press kit: https://docs.flojoy.ai/press-kit (https://pr.report/OGSmeYID)

Contact Information

Lauren Burke

Media Relations
media@flojoy.io (mailto:media@flojoy.io)

SOURCE: Flojoy, Inc.

 

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