- Kennametal (KMT, Financial) has made a strategic investment in AI-based CAM software firm Toolpath Labs to boost its digital capabilities.
- The partnership aims to address skill gaps in manufacturing by optimizing toolpath strategies using AI technology.
- Both companies will collaborate on global expansion through go-to-market strategies and product development.
Kennametal Inc. (KMT), a leader in industrial technology, announced a strategic investment in Toolpath Labs, an emerging player in AI-powered computer-aided manufacturing (CAM) software. The partnership is intended to enhance Kennametal's digital capabilities, enabling more efficient tool selection and toolpath strategies through advanced AI integration.
This strategic collaboration aligns with Kennametal's growth initiatives, focusing on expanding their digital solutions to meet the evolving needs of their manufacturing clients worldwide. As part of the partnership, Kennametal will leverage its extensive tooling and application engineering expertise with Toolpath's AI technology to offer scalable solutions that address workforce challenges and improve shop floor performance.
Dr. Carlonda Reilly, VP & Chief Technology Officer of Kennametal, emphasized the transformative potential of this partnership, stating that Toolpath's platform integrates AI effectively, bringing its advantages directly to the shop floor. The collaboration also aims to democratize machining knowledge, allowing even less experienced operators to achieve expert-level results.
Dave Bersaglini, President of Metal Cutting at Kennametal, highlighted how this partnership extends their application expertise and advanced tooling to a broader audience, creating a bridge between human expertise and digital intelligence. Similarly, Al Whatmough, CEO of Toolpath, expressed enthusiasm for combining AI software with real-world application knowledge, setting the stage for redefining the manufacturing industry.
The collaboration includes efforts in joint go-to-market strategies, product development, and demand generation initiatives to globally expand Toolpath's platform, reflecting their ambition to shift towards higher-margin digital services. This strategy not only complements Kennametal's traditional tooling products but also positions them as a comprehensive manufacturing solutions provider.
With this strategic investment, Kennametal aims to transform from a traditional tooling supplier into a digital powerhouse in the manufacturing industry, capitalizing on the increasing trend of digital transformation to overcome industry skill gaps and operational inefficiencies.
