Tvarit has closed its funding round, led by Momenta and Futury Capital, to enable AI-powered, waste-free, and energy-efficient metal manufacturing. The round also included a significant re-investment by existing investor Matterwave Ventures.
Tvarit, a Frankfurt-based startup, is on a journey to enable zero-waste manufacturing. 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. Tvarit estimates that the metals industry loses EUR 160bn annually.
Focusing on the metal manufacturing processes such as casting, hot forming, welding, etc, Tvarit offers a hybrid AI solution that combines deep metal processing domain knowledge with data-driven AI to provide continuous, accurate prescriptions and actionable insights to help the machine operators achieve higher productivity.
Casting is one of the oldest and most widely used methods for producing complex metal parts, and Tvarit’s hybrid AI solution is the first of its kind for the industry.
