Mitsubishi Electric Invests in AI-Powered PLM Startup Things to Enhance Manufacturing Efficiency

Mitsubishi Electric Corporation (TOKYO: 6503) announced today that its ME Innovation Fund has invested in Things, Inc., a Japan-based startup specializing in AI-assisted product lifecycle management (PLM) systems for manufacturing. Things provides comprehensive document management solutions from the initial product planning stages through development and final disposal. This marks the twelfth investment made by the ME Innovation Fund to date. Through this strategic investment, Mitsubishi Electric aims to integrate its expertise with Things' advanced AI technologies to enhance its product lifecycle management capabilities. The goal is to streamline manufacturing processes, improve documentation accuracy, and support sustainable practices from the early stages of product design to end-of-life management. Things, Inc. has been at the forefront of developing sophisticated AI tools that help manufacturers manage the vast amounts of data involved in product development and lifecycle tracking. By leveraging AI, the company's systems can automate many labor-intensive tasks, reduce errors, and provide deeper insights into product performance and lifecycle needs. Mitsubishi Electric’s decision to invest in Things reflects a broader industry trend toward leveraging AI to optimize manufacturing and engineering workflows. Competitors and other companies in the sector are also exploring similar technologies to stay competitive and meet growing demands for efficiency and sustainability. The investment underscores Mitsubishi Electric’s commitment to innovation and its strategy to collaborate with tech startups that can complement its existing offerings. By integrating Things' AI-assisted PLM systems, Mitsubishi Electric expects to offer more robust and efficient solutions to its clients, ultimately driving better outcomes in the manufacturing industry. In a statement, a spokesperson for Mitsubishi Electric said, “We are excited to partner with Things, Inc. to advance our PLM capabilities and deliver more innovative solutions to our customers. This investment aligns with our vision of leveraging cutting-edge technologies to enhance operational efficiency and sustainability in manufacturing.” With this partnership, both companies anticipate significant advancements in the field, contributing to the overall digital transformation of the manufacturing sector. The collaboration is expected to bring together the strengths of Mitsubishi Electric’s industrial expertise and Things' pioneering AI technology, creating a synergistic effect that benefits both parties and their customers.