Mitsubishi Corporation Invests in ThinkIQ to Drive Digital Transformation for the Manufacturing Industry

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Jan 09, 2024, 09:00 ET

ThinkIQ and Mitsubishi Corporation team up to accelerate digital transformation for manufacturing and supply chains in Japan

ALISO VIEJO, Calif., Jan. 9, 2024 /PRNewswire/ -- ThinkIQ, a pioneer of digital manufacturing transformation solutions, today announced an investment by Mitsubishi Corporation and a collaboration agreement to jointly accelerate the growth of ThinkIQ's digital manufacturing platform in Japan. Terms of the investment were not disclosed.

Mitsubishi Corporation is partnering with ThinkIQ to accelerate digital transformation with smart manufacturing solutions for the many industrial supply chains in its ecosystem. ThinkIQ has built its open platform working closely with U.S. and European government smart manufacturing and Industry 4.0 initiatives and global standards bodies. The investment is further testament to ThinkIQ's technology and will drive expansion leveraging Mitsubishi's global presence.

"We are honored to have been recognized by Mitsubishi Corporation as its partner to drive global adoption of smart manufacturing solutions," said Doug Lawson, CEO of ThinkIQ. "Our platform addresses a growing market need to operate and manage complex manufacturing supply chains more efficiently. With our strategic relationship and Mitsubishi's investment, we will expand our market reach and accelerate our efforts to provide end-to-end supply chain visibility."

"Our team has spent years driving thought leadership for a digital transformation strategy for the manufacturing sector, as well as doing research and diligence to find the right partner to drive adoption of those strategies into our industrial supply chains, and we are excited to have chosen ThinkIQ as our technology partner. We expect ThinkIQ's solutions to have a major impact on manufacturers to help improve yield, quality, safety, and compliance while dramatically reducing waste and environmental impact," said Yoshiyuki Watanabe, Division COO of Mitsubishi Corporation. "ThinkIQ's open, innovative platform and leadership in digital transformation for the manufacturing industry is what prompted our investment and go-to-market partnership."

ThinkIQ provides unprecedented visibility to the manufacturing shop floor across each tier of complex supply chains. The SaaS platform securely connects to the physical world of legacy and smart equipment, IoT sensors, OT and IT systems to bring all relevant data into a single analytics platform that brings context, meaning and discoverability for all participants in supply chain and manufacturing operations. ThinkIQ Vision brings vision-processing software combined with powerful pre-packaged Machine Learning and Artificial Intelligence capabilities to turn standard cameras on the shop floor into sensors that eliminate blind spots across equipment, materials, and people to greatly enhance the available data for Continuous Intelligence.

To learn more about ThinkIQ, visit our website.

About ThinkIQ
ThinkIQ, a pioneer of Digital Manufacturing Transformation SaaS across the material-centric supply chain, delivers unprecedented material traceability and insight into ways to improve yield, quality, safety, compliance, and brand confidence. Its Continuous Intelligence platform captures granular data in real time and continuously contextualizes it to deliver a new level of visibility that facilitates transformative decision-making across the entire manufacturing process and supply chain journey. ThinkIQ's Vision platform offers unparalleled end-to-end visibility on the shop floor with alternative vision-based sensors. Its customers have saved $10's of millions by identifying waste and underperforming assets, as well as reducing warranty reserves for quality and safety issues. ThinkIQ is a privately held company headquartered in Aliso Viejo, CA.

About Mitsubishi Corporation
Mitsubishi Corporation engages in a wide range of businesses spanning multiple industries and is overseen by Industry DX Group, Next-Generation Energy Business Group, and 10 industry-specific business groups: Natural Gas, Industrial Materials, Petroleum & Chemicals, Mineral Resources, Industrial Infrastructure, Automotive & Mobility, Food Industry, Consumer Industry, Power Solution, and Urban Development.

Media Contact
Christian Morley
Lumina Communications for ThinkIQ
[email protected]

SOURCE ThinkIQ