German startup Tvarit, which aims to make manufacturing efficient and help the industry produce less waste, raised €5M ($5.4M) to scale.
The company has an AI-powered solution to provide waste-free and energy-efficient metal manufacturing.
- The funding round was led by Momenta and Futury Capital and included a re-investment by existing investor Matterwave Ventures.
- Tvarit is focused on combining metal manufacturing processes like casting, hot forming, and welding with data-driven AI to help machine operators work more efficiently.
- The Frankfurt-based company claims it can reduce scrap by 50% and energy costs by 30%.
- "We have been fortunate enough to invest with our early-stage fund in Tvarit's early days," said Benjamin Krahmer, Managing Partner at Futury Capital. "With Tvarit's recent significant growth, its superior AI, and its deep industry know-how, we are excited to further invest with our Growth Fund, enabling Tvarit to accelerate even stronger."
- Tvarit was founded in 2019 by Suhas Patel and Rahul Prajapat.
