Introducing the latest entry in the Luminar Ventures Founder Series—our ongoing platform that highlights journeys and insights from visionary entrepreneurs within our portfolio. This edition features Karoly Szipka, CEO and Co-Founder of IPercept, a fast-growing startup revolutionizing industrial manufacturing with AI-powered solutions. Drawing from his academic roots in engineering, deep technical expertise, and entrepreneurial upbringing, Karoly shares his path to launching iPercept, the unique challenges faced in industrial innovation, and his perspective on building a company at the heart of Sweden’s renowned tech ecosystem.
Let’s start from the beginning. Can you tell me a bit about your background, and what first sparked your interest in solving complex problems?
Since I can remember, I’ve always been curious. As a child, I found different parts of the world full of little wonders—things that others might take for granted fascinated me deeply. My father was an entrepreneur, and I found the idea of an apprenticeship captivating from a young age. He would bring me to meetings and discussions, which left a significant impression on me. When I reached university, I faced a dilemma: business or engineering? It was a close call, but I chose engineering, and I’m so glad I did.
Looking back, how did your decision to pursue engineering over business shape your path as a founder?
That choice was tremendously important. Even during my engineering studies, I thought I might end up an entrepreneur, but my fascination with engineering kept growing. By the time I began my PhD, that fascination peaked, fueling my desire to understand complex technical problems and eventually change the world around us
You’ve gone from Hungary to Sweden, now leading an innovative tech company. How has that cross-cultural experience influenced your approach to building IPercept?
It’s been pivotal. My first startup in Hungary began in a time and place with no real ecosystem—no investments, no philosophy, and little support. Coming to Sweden felt like being born with wings to fly. The resources, accumulated experience, long-term thinking, and collaborative spirit here make Sweden a unique ground for innovation. The Swedish ecosystem provided us with opportunities that simply didn’t exist elsewhere, and the culture encourages both risk-taking and support.
How has Sweden’s innovation ecosystem impacted IPercept’s journey?
IPercept couldn’t have been born anywhere other than Sweden. Only here could it happen that manufacturing giants, who even compete with each other, joined forces and turned to research to push the limits of commercially available solutions. There’s an incredibly strong focus on long-term investment and thinking. This strategic mindset has been growing the critical mass of experience in the Swedish ecosystem for generations. In many ways, this background lifted us and gave us access to an ideal go-to-market setup..
Was there a defining “aha moment” when you realized the real potential of AI to revolutionize manufacturing?
Yes. We were experimenting with entirely new principles for data collection on complex industrial machines. The first time the results aligned—the moment we realized it couldn’t be just a coincidence—I got minutes-long goosebumps. That was the start of a long path, with conviction - and the amount of goosebumps - growing at each milestone since.
Predictive maintenance typically applies to simple machines. What sets iPercept’s approach apart?
Most solutions in our space are based on principles dating back to the 1970s, effective only for simple components or machines. We’ve developed a fundamentally new approach that is purpose-built for CNC machines, requiring far fewer sensors or integrations and delivering the world's most granular insights. This drives unprecedented scalability and a 30% efficiency increase for a 3 TEUR yearly value-added metalworking industry..
How does it feel to be at the heart of Sweden’s AI and industrial innovation boom?
There’s never been a better time to build. Developments in AI have accelerated so rapidly—even since the first wave of AI code assistants. Each innovation exponentially increases reach, allowing us to realize visions that were previously impossible. Our deep industry knowledge propelled our software and AI application development. Sweden gave the world dozens of industrial giants, at the same time becoming a central hub for AI. We are in a strong position to become the next global category leader in the industrial space.
How do you think Europe—especially Sweden—can win in the global AI race?
Europe remains a manufacturing powerhouse, and its historical strength has always been adaptation at scale. We don’t always have to invent from scratch but excel at adopting and integrating new technologies. By enabling faster adoption of AI-driven solutions, we are powering Europe to retain and extend its industrial leadership globally.
What does the “AI-enabled factory” of the future look like to you, and what role will IPercept play?
The future factory is fully integrated yet doesn’t require major IT overhauls—our solution works as a new layer, emphasizing cybersecurity and direct data access, delivering insights to where they’re most useful. In five years, we see IPercept-enabled people in factories achieving unparalleled efficiency by making facts and knowledge available exactly when and where they’re needed.
How do you maintain efficiency and personal effectiveness as a CEO?
It comes down to prioritizing the customer and taking all actions that can help them. Then, forcing yourself to periodically reflect on where time and focus go helps, so you don't get lost in details. Clarity for yourself leads to clarity for your business and team. Finally, trusting your team makes the biggest leverage towards impact..
What’s been the best advice you’ve received as a founder?
The paradox of developing deep expertise and turning it into impact. Digging deep into something, you tend to isolate yourself, focusing narrowly on your domain problem. The best advice has always been to regularly step out, interact with customers, and stay open to people, even if you are temporarily so focused on things. It’s simple in theory but pretty difficult in practice.
Finally, what advice would you give to new founders or aspiring entrepreneurs just getting started?
Make sure you’re aligned with your own purpose and passion—the impact you want your business to create. That strong foundation can make you indestructible and help you push through inevitable difficulties.
Stay tuned for more inspiring stories from visionary founders within the Luminar Ventures portfolio, published regularly as part of The Founder Series.