Boarding PassHow does CADY tackle errors in electrical schematics?
Boarding Pass
How does CADY tackle errors in electrical schematics?
The company has raised a total of $4 million to improve the product design process
“As with most founder stories here in Israel, my co-founders and I met while serving at the IDF,” explained CADY co-founder and CEO Gilad Shapira. “The idea (and where the best ideas come from) was born out of Tal’s [Ben Porath, CTO] necessity. He saw delays and even products being discarded due to errors in the electrical schematics. His options were to check every data sheet manually in order to detect mistakes – so out of necessity... his first thought was – why is there nothing automatic out there?”
CADY addresses the problem of commonly found errors in the electrical schematics of PCBs. It was an alum of the Intel Ignite program and its product version was launched in February 2023.
You can learn more about the company below.
Company Name: CADY
Sector: AI
Product/Service description:
CADY provides AI-powered electrical schematic inspection software to optimize the product design process, reduce associated costs, and accelerate time to market for hardware companies. With CADY's advanced AI technology, errors in PCB's electrical schematics, both simple and complex, are automatically detected within minutes. These errors, if left unnoticed, can lead to PCB redesign and future product malfunctions. Traditionally, these errors are identified through a manual and costly trial-and-error process, with some errors going undetected altogether. This often results in product release delays and substantial additional expenses. By detecting errors early on, CADY's solution improves and expedites the product design process, leading to significant resource savings, shorter time to market, and most importantly, improved quality, reliability, and safety of the final product.
Founder Bios:
Gilad Shapira, Co-Founder and CEO
Tal Ben Porath, Co-Founder and CTO
Or Shabtai, Co-Founder and Data Scientist
Year of Founding: 2020
Last Investment Round: $2.8 million
Last Investment Stage: Seed
Date of Last Investment: December 2021
Total investment to date: $4 million
Investors: Teramips Technologies, Udi Peless, TAU Ventures, TAL Ventures, Aristagora VC, Atooro Fund, Rafi Gidron, and Zohar Gilon
Current number of employees: 10
Open positions: N/A
Social Media:
https://www.linkedin.com/company/cadydesign/
How was the idea born?
As with most founder stories here in Israel, my co-founders and I met while serving at the IDF, Tal Ben Porath who serves as the company’s CTO, and Or Shabtai who is the Head of Research. The idea (and where the best ideas come from) was born out of Tal’s necessity. He saw delays and even products being discarded due to errors in the electrical schematics. His options were to check every data sheet manually in order to detect mistakes – so out of necessity... his first thought was – why is there nothing automatic out there?
What is the need for the product?
CADY is addressing the problem of commonly found errors in electrical schematics of PCBs - from simple and direct errors to complex logical errors that cause malfunctions and lead to a re-design of the PCB. Typically, errors are detected at the end of a long and expensive trial-and-error process.
How is it changing the market?
CADY developed an automatic inspection and verification software of electrical schematics, the first of its kind, based on cutting-edge AI technology that reads and understands electrical components datasheets.
By detecting errors at an early stage, this solution improves and expedites the design process, yields a significant saving of money and resources, reduces the final product's "time to market" and contributes to the quality, reliability, and safety of the final product.
How big is the market for the product and who are its main customers?
Market size is more than $2 billion, including all HW companies in the world – from small one-product startups to multinational corporates developing HW components and systems.
Does the product exist already? If not - at what stage is it and when is it expected to hit the market?
The product was commercially launched in February 2023.
Who are the main competitors in this sector and how big are they?
The main competitors of CADY’s solution are Design Rule Checkers embedded in the ECAD environments and Mentor Graphics (a Siemens Business) Xpedition Schematic Analysis.
What is the added value that the founders bring to the company and the product?
CADY combines two main disciplines – PCB design (which Tal brings to the table), and Data Science (which Or and Gilad bring to the table).
What will the money coming in from the round be used for?
The next round of funds will be invested mostly in Marketing and Sales, to expedite the business growth of the product following the successful commercial launch last February.
In the "Startup Boarding Pass" section, CTech will cover the (relatively) small investments made in companies during the early stages of their existence - and the entrepreneurs and startups who have not yet had the opportunity to reveal their stories to the world. Please use the linked form and fill it out according to the guidelines. This form is intended for startups raising between $500,000 and $3 million from venture capital funds, angels, or official grants from Israeli and foreign institutions. If relevant, someone at CTech will be in touch for follow-up questions.
