Tvarit receives 5 million euros in Series A
Tvarit has closed a €5 million financing round to enable AI-based, efficient metal production. Momenta, Futury Capital and Matterwave Ventures are participating as investors.
Tvarit is a start-up company based in Frankfurt that focuses on enabling zero-waste production. According to estimates by the World Economic Forum, around 50% of the world's waste is generated by industry. The start-up puts the resulting losses for the metal industry at up to €160 billion per year. Tvarit offers an AI solution for optimizing metalworking processes. It provides machine operators with continuous parameter recommendations and actionable insights to increase productivity.
According to the company, this solution can reduce production waste by 50% and cut energy costs by 30%. In the low-margin environment of the metal industry, this means an improvement in the profit margin for customers. A positive side effect is the lowerCO2 footprint.
Metal processing productions are very complex. AI is the only way to avoid waste in production.
Suhas Patel, CEO & Founder Tvarit
About Momenta
Momenta is a VC firm that invests in venture capital and growth in the digital industry. They support entrepreneurs and executives focused on the digitization of energy, manufacturing, smart spaces and supply chains. Since 2012, the firm has made over 100 investments in entrepreneurs and supported more than 150 industry leaders through their executive search and strategic advisory practices.
Manufacturers in Europe are simultaneously facing two challenges, the energy transition and climate neutrality. Tvarit's AI tools enable them to do both.
Ken Foster, Executive Director Lead Investor Momenta
About Futury Capital
Futury Capital is a venture capital fund founded in 2018 as a cooperation between experienced institutional and private investors and the state of Hesse to invest in technology-oriented start-ups. The Futury Venture Fund offers young companies a basis for developing their business. Since the launch of the Futury Growth Fund at the end of 2020, growth capital can also be provided for technology companies.
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