Mitsubishi Invests in ThinkIQ for Manufacturing

ThinkIQ, a company invested in digital manufacturing transformation solutions, announces an investment by Mitsubishi Corp. 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 is partnering with ThinkIQ to accelerate digital transformation with smart manufacturing solutions for the 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. 

“Our platform addresses a growing market need to operate and manage complex manufacturing supply chains more efficiently," says Doug Lawson, CEO of ThinkIQ. "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.”

“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,” says 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 visibility to the manufacturing shop floor across each tier of complex supply chains. The software-as-a-service 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, according to ThinkIQ. ThinkIQ Vision brings vision-processing software combined with prepackaged 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.

Sources: Press materials received from the company and additional information gleaned from the company’s website.