Momenta has led the Series A round of investment in Tvarit, a German company providing Industry 5.0 net-zero metal manufacturing solutions. Tvarit’s AI solution combines deep domain expertise in metal processing with data-driven insights to boost productivity and reduce energy costs and metal waste. Tvarit plans to use the growth funding to scale its solution and international market.
ZURICH, Switzerland, BERLIN, Germany, and SAN FRANCISCO, April 17, 2023 /PRNewswire-PRWeb/ — Momenta announced today that it has led the Series A funding round in Tvarit, a leading provider of digital solutions that help metal manufacturers achieve net-zero operations. Tvarit’s hybrid AI solution combines deep metal processing domain knowledge with data-driven AI to provide continuous, accurate prescriptions and actionable insights to help machine operators achieve higher productivity and lower energy costs.
This is the tenth company receiving investment from Momenta’s AIoT Ecosystem Fund, powered by Advantech, the world leader in digital industrial solutions. With this financing, Tvarit will scale its software solution and global sales organization.
The World Economic Forum estimates that industrial waste accounts for half of all waste generated globally. Manufacturing is the largest and fastest-growing contributor to this waste stream, with an estimated 20% of every dollar spent on manufacturing producing waste.
Casting is one of the oldest and most widely used methods for producing complex metal parts. The industry has been slow to transform digitally, so it still largely relies on manual production recipes with little to no optimization. As a result, Tvarit estimates that the industry loses €160 billion annually due to yield loss and the equivalent loss of energy required to produce that waste.
Tvarit utilizes AI models for prescriptive quality and energy to significantly reduce energy consumption and increase yield in metal casting operations. With over 160…