NVIDIA launches Jetson Thor robotics computers for physical AI systems
Investing.com - Recently-listed Dot Ai’s manufacturing facility in Puerto Rico is now fully operational and has begun production for its patent-pending hardware applications, the artificial intelligence-enhanced software-as-a-service startup has announced.
In a statement, the company said the facility -- its first hardware manufacturing operation -- is equipped to produce its so-called "Zero Infrastructure Mesh Bridge," which helps with real-time tracking solutions, as well as smart asset tags. These items can then be used for data collection and process optimization via Dot Ai’s cloud platform, the firm noted.
Dot Ai, which offers a selection of tools that are designed to help businesses streamline their logistics and supply chain processes and bolster their operational security, said the plant will help meet "rising global demand" and deliver "greater value" to customers.
CEO Ed Nabrotzky said the facility in Barceloneta, Puerto Rico “strategically positions us to meet growing demand as supply chain and logistics operators face increasing pressure to reduce costs, improve reliability, and optimize efficiency."
Plans to establish the site were previously announced by Dot Ai and the island’s business attraction organization, Invest Puerto Rico, in May.
Wednesday’s announcement comes after Dot Ai went public on the Nasdaq last month via a blank-check tie-up with special purpose acquisition vehicle ShoulderUp Technology Acquisition Corp.
Along with the merger, Dot Ai has said it has raised $12 million in so-called private investment in public equity (PIPE) financing to help support its strategic growth plans. These include the expansion of Dot Ai’s research and development goals and go-to-market plans as well as the development of its manufacturing operations in Puerto Rico.
With PIPE deals, special purpose acquisition companies can raise additional funds from private investors like hedge funds and institutions in exchange for shares prior to the merger deal being completed.