The technology developed by COGTIVE helps increase productivity and profits by identifying hidden capacity in industries.
The term “white elephant” refers to something valuable that cost a lot of money but is not very useful in practice. What many companies and industries don’t know is that they are full of white elephants in their plants, and worse, they are losing money and production capacity.
This is because, especially with Industry 4.0, processes have become even more efficient and capable of delivering on a much larger scale without the need for asset investment. However, despite the innovations, there is hidden capacity present in the production line that is still not being exploited by most companies and goes unnoticed by industrial leaders.
It was with this demand in mind that COGTIVE emerged, with the goal of developing solutions that identify hidden potential in factory floors and provide information for the industry to operate optimally, leveraging productivity not only in machines but the entire operation itself, using disruptive technologies such as Artificial Intelligence and IoT (Internet of Things).
Studies in the Brazilian market, conducted by COGTIVE, indicate that, on average, industries have 30% of unknown production capacity due to line stops, low asset performance, and poor labor distribution, which corresponds to over R$ 500 billion in Brazilian manufacturing.
If the hidden potential of factories were exploited, we would have a 5.6% increase in the Brazilian GDP. This would have a significant impact on the economy, generating more job offers, income, and foreign investment stimulation.
Although COGTIVE has been around for almost 5 years, the commercial machine only started operating 2 years ago, being bootstrapped since then. In 2021, our revenue reached R$ 2.5 million, reaching R$ 5 million in 2022, with the prospect of reaching R$ 10 million in revenue without fundraising.
And this can be seen with the achievements of 2022. COGTIVE came in first place in the LTNtech pitch, from 1871, one of the leading accelerators in the United States, in addition to achieving the 100 Open Startups for the third consecutive year in the Top 10 IndTechs category, and for the first time in the main category.
It was also the year we achieved our first international contract, with the opening of our first overseas office in Chicago, as well as other awards and goals reached. “Now, in November, we were in Chicago to formalize the opening of our office in the main innovation hub in the United States, 1871, and throughout 2023 we will expand to Europe and MENA, and in the latter, we already have as a client one of the leading producers of generic drugs in the region,” emphasizes the CEO.
And for 2023, COGTIVE promises more advancements. The launch of the artificial intelligence TÆLOR is planned, which, through proactive behavior, will search for opportunities on the factory floor and bring insights to industrial leaders to solve problems before they become relevant. And this launch is aligned with the needs of the foreign market, following the internationalization process already started.
With several clients in various segments of the manufacturing industry, we have a strong portfolio in the pharmaceutical sector, but we are also expanding clients to other sectors, such as chemicals, animal health, cosmetics, and automotive. For the automotive industry, for example, we recently developed a no touch data collection based on cameras and image recognition, according to the specificities and distinctions that a workshop has in relation to the factory floor.