Tvarit receives €5 million in Series A funding

Tvarit has closed a €5 million funding round to enable AI-based efficient metal fabrication. Momenta, Futury Capital and Matterwave Ventures are participating as investors.

Tvarit is a Frankfurt-based startup focused on enabling waste-free manufacturing. According to estimates by the World Economic Forum, industry accounts for approximately 50% of global waste. The startup puts the resulting losses for the metals industry at up to €160 billion annually. 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 scrap on the shop floor by 50% and save energy costs to the tune of 30%. In the low-margin environment of the metals industry, this means improved margins for customers. A positive side effect is the lower_{CO2 footprint}.

Metal processing productions are very complex. AI is the only way to eliminate waste in manufacturing.

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 leaders focused on digitizing 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 face two simultaneous 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 established in 2018 as a collaboration between experienced institutional and private investors and the German state of Hesse to invest in technology-driven startups. The Futury Venture Fund provides a base for young companies to develop their business. Since the launch of the Futury Growth Fund at the end of 2020, growth capital can also be provided for technology companies.