AI FOR FACTORY AUTOMATIONFIELDVIEW

PITCHDECK1CEODaniele Bernardini
Master in Physics from University of Florence & LMU Munich
Computer Vision and Machine Learning researcher
at Technical University of Munich (TUM)
15 years of experience in managing a software company

VP SalesFrancesco Scalise
Master in Electronic Engineering from University of Parma
20 years of experience in sales In the manufacturing market
15 years in management positions

EXPERIENCE AND ENTHUSIASMABOUT US –FOUNDERS TEAM

COO
Giorgio Calapà
Master in Business and Administration from University of Bologna.
15 years experience as Business Analyst/Project Manager inOperations and Technology for Tier 1 Investment Banks,
Investment Funds and Fintech companies

Scientific Advisor
Prof. Dr. Marco Caccamo
Alexander von Humboldt Professor at TUM(Most prestigious German research award)
IEEE Fellow
Chair for Cyber-Physical Systems in Production Engineering

Industrial Advisor
Dr. Leonardo Tassini
PhD. in Physics from TUM
15 years experience in Research and Developmentin Sensors and Optical Systems

2

TODAY’S RIGID AUTOMATIONPROBLEM AND HUGE OPPORTUNITY

FACT: Large part ofglobal manufacturing
is still not automated
WHY: automation
makes sense only forlarge production
volumes with minimalchanges

3Automation Today

Bespoke Machinery
High initial costs
High costs for changes
Only for high volumes
and stable production lines

Automation Tomorrow

LoadingAssembling

Robotic Arms with AI Vision
Moderate initial costs
Maximum flexibility
BUT
AI is still in research
Needs AI scientists on site

4

ADDRESSING KEY ROADBLOCKS IN
AUTOMATION
Robustness in High Mix Production

Simplified Setup & Adaptation

Adapting to High Mix Environments

Easy Setup & Changes

Consistent performance across varied lighting conditions
Efficient operation amidst dynamic backgrounds
Seamless integration with human operators

Effortless setup of new production lines
Modify parts processing with simple configurations
No advanced ML expertise required

Leverage Cognivix founders
Machine Learning Research Results

Patented (pending)
Automated Data acquisition and training of AI

56

ROBUSTNESS IN HIGH-MIX PRODUCTION

AI IN THE FACTORY WITHOUT R&D TEAM

7SIMPLIFY SETUP AND ADAPTATIONFROM DESIGN TO PRODUCTION IN 24H
Automated Pipeline• Upload CAD
model of new part• Scan sample inour patented
training station

Engineering
Prototype

Deployment• 24h to train theneural AI• AI deployed on all
factories - IoT• Production Linesupdated• Production starts
with new parts

Production

8

PRODUCT OVERVIEW

411Training Station Prototype to scan
the sample before deployment(Patent in national phase)

M

34Standard
Robot Controller

32Standard Camera+ Depth

NOTIO

GRASPING POSE

VIDEO 3D

2

Hardware: AI Controller 2000€
Software: Fieldview Client 2000€ / Year
1Controller / RobotCOGNIVIX TIMELINE

9INTELLECTUAL PROPERTY STRATEGY
PCTFuture Patents

Automated Image Acquisition System for

Multi frame stabilization

Automated Training of Artificial

Further innovation inIntelligence Algorithms to Recognize

computer vision for robotics

Objects and Their Position and Orientation
2020

2022

2021

Italian Patent Application- Bernardini
Sistema Automatizzato per la Acquisizione diImmagini per il Training Automatizzato diAlgoritmi di Intelligenza Artificiale Per il
Riconoscimento di Oggetti

National Phase
USA September 2022
EU October 2022

2023-24

SOLUTION POSITIONING

Traditional Automation

Productivity

Initial Cost

Traditional Automation

ü Low initial costs
ü Low running costs

Manual Labor
Running Costs

ü High productivity
ü Great flexibility

Manual Labor
Flexibility

10

BUSINESS MODEL

11

ORDER EXAMPLECountFixedCosts

YearlyLicenses

Hardware Costs

24,000€0€

Fieldview Client20€

4,000€

Fieldview Server

10€

10,000€4,000 k€14,000€A typical small customer
with 2 robots

Total

12Alreadyautomated

LICENSESEUMARKETITALIAN
MARKET

about 30 Billions EUR

20% about 6 Billions EUR

10% about 600 Milions EUR

POTENTIAL

1 Milion Factories with potential
for Smart Automation

1M

Too Hard toAutomate**

10 Million di factories worldwide*

FACTORIESGLOBAL
MARKET

10 robot*** per factory
circa 30k EUR di licenze

30 BILLIONS GLOBAL MARKET* https://www.scmo.net/faq/2019/8/9/how-many-factories-is-there-in-the-world** We assume that 10% of the factories have some process that can be automated using our technology*** We further assume that each such factory will utilize on average 10 robots

MARKET SEGMENTATION

13

COGNIVIX TIMELINE

14

MARKET ACCESS
LicensingLeverage partners networks

Scale Upand Integrators to transition

Consolidate partnerships

from project to product sales

with integrators

2024

2025

2025

PilotsInternational Expansion

First pilot planned dec 2023

Establish USA and Japan subsidiaries

2 more pilots in pipeline

Round A

Aim to finish 5 pilots by end 2024

2026

15FINANCIALS
CAC LTV in K€ By Segment

CAC 50 K€
Large Customer

LTV, 1,000 K€ *CAC 20 K€

Mid sized Customer

LTV, 400 K€ *CAC 5 K€
Small Customer

LTV, 120 K€ *0200

* assuming 10 year of operations for a production line and:• 1 plant, 1 robot for a small customer• 2 plants, 5 robots per plant for a medium customer• 5 plants, 5 robots per plant for a large customer

400600

800

1000

1200

FIELDVIEW TIMELINE

16HOW WE GOT HERE
Idea &PoC

ResearchPrototypeIdea born from collaboration

Completed first working

Pilots & PMF

with FANUC - First PoC

prototype in collaboration

Speed, robustness,

Successful Robot Graspingwith TUM – 90% accuracy

prototype production lines

2021

2023

10 years ofresearch inAI

2019-202022

2023-24

Raised 950k€

Cognivix s.r.l.
incorporated

Smart & Start Italia

Highly experienced

Equity Seed Roundteam from research,
industry and finance

SEED ROUND

2023

17

SEED ROUND 1.2M
LEAD INVESTOR: MAGIC SPECTRUM
2025
2023

2024

IndustrialPrototype• Product Development• Business Development
950k € PreSeed

Magic Spectrum is anaccelerator and investment fundofDigital Magics,
Cassa Depositi e Prestiti
andCompagnia di San Paolo

600k € Seed

600k € Seed
Follow on

Dec 2023:

After Milestone:

300k € Magic
Spectrum

300k € Magic
Spectrum

300k € Other
Investors

300k € Other
Investors

Product/MarketFit

Move from projectdriven business tolicense driven
revenue
Hand overinstallation andoperations tointegrators
Ready to scale up
internationally18

Recognized by StartUs Insights as one of the

10 Top Manufacturing Startups to Watch in 2023
https://www.startus-insights.com/innovators-guide/manufacturing-startups/

Recognized by Web Summit as one of the

200 Most Exciting Early Stage Startups 2022 & 2023
For two consecutive years Cognivix was invited toThe Gathering, a close door event taking place before Web SummitCognivix aims to harness the power of AI through groundbreaking
hardware/software innovation to the factory floor.
Contact us at daniele.bernardini@cognivix.com