HERZLIYA, ISRAEL – Cybord raised a $4 million seed investment led by IL Ventures.

Cybord delivers AI and big data software that inspects, qualifies and tracks every component and printed circuit board.

“Today, in the midst of the global supply chain crisis, electronic manufacturers across multiple industry verticals struggle to meet ever-growing customer demand while keeping quality a top priority,” said Zeev Efrat, CEO, Cybord. “The need to acquire components in the free market and not only from well-established suppliers increases manufacturers' exposure and vulnerability to significant quality issues. These issues can have direct, sudden and costly effects on their ability to produce quality products.”

"Cybord's proven technology allows leading industry players to implement the Zero-Trust approach. As the global shortage in electronic components becomes chronic, this becomes a competitive edge that helps our customers generate more revenues, lower their costs and increase their profitability," said Eyal Weiss, Ph.D., founder and CTO, Cybord.

"Cybord's proprietary technology is already deployed, serving Flex and other global industry leaders at several manufacturing sites globally. The company has made remarkable technological and commercial achievements to date. By now, Cybord has scanned over 1.2 billion components, while supporting high production volumes with value delivered every day," said Elad Frenkel, managing partner, IL Ventures. "We are confident this genuinely disruptive AI technology will change the entire industry, solving a multi-billion-dollar pain of the electronics industry."

The company will use the proceeds from the investment round to advance its R&D and product offering, as well as to expedite business growth into additional verticals such as telecom, automotive, defense and healthcare.

The investment round was led by IL Ventures, joined by NextLeap Ventures, with co-investment by the Israel Innovation Authority.

"The purpose of this highly attractive mechanism of the IIA is to increase the number of seed-stage investments, reduce risk and incentivize more experienced venture capital investors to invest in young, early-stage startups operating in fields involving complex technologies and market disruption," said Karina Rubinstein, senior director for business development, IIA.

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