- TVARIT, a Frankfurt-based AI and deeptech startup, has raised €6.5 million (approximately $6.89 million) in a Series A funding round led by Momenta and Futury Capital, with participation from 4impact Capital and existing investor Matterwave Ventures.
- The startup focuses on helping metal manufacturing companies reduce waste, energy consumption, and GHG emissions through its hybrid AI solutions.
- TVARIT has achieved 50% reductions in scrap and 18% reductions in energy consumption for customers in the metal industry.
- The startup is currently operating in nine countries across five continents and aims to expand its global presence.
- Governments worldwide are tightening regulations to address climate and sustainability challenges in the metal manufacturing industry, making AI solutions more critical.