Momenta leads the seed round for Composabl, a trailblazer in
industrial AI and autonomy, joined by Ridgeline Ventures,
Exposition Capital, and Hannah Gray Ventures. Composabl's unique
approach empowers engineers to deploy real-time autonomous agents
for manufacturing and logistics, supported by Momenta's investment
and industry endorsements.
SAN
FRANCISCO and ZURICH, May 8, 2024
/PRNewswire-PRWeb/ -- Momenta, the leading Industrial Impact ®
venture capital firm, has led the seed round for Composabl, a
trailblazing company at the forefront of industrial AI and
autonomy. Momenta's investment, along with the participation of
other notable investors such as Ridgeline Ventures, Exposition
Capital, and Hannah Gray Ventures, will drive advancements in
industrial processes and aligns with Momenta's commitment to
entrepreneurs and leaders improving industrial operations and
outcomes.
We wanted a lead investor who understands
industrial, not just the market opportunity, but the market, the
companies, the culture of industrials, and the impact on society.
That's Momenta.", said Kence
Anderson, CEO of Composabl.
Composabl's unique approach to autonomous AI represents a step
change in industrial process capabilities and will drive
advancements and efficiency for manufacturing and logistics. Built
for industrial process engineers, not data scientists, Composabl
helps create real-time process optimization AI agents, driving
toward autonomous operations. Momenta's investment will provide
Composabl with the resources and support needed to accelerate the
growth of its platform and market presence.
Co-founded by Kence Anderson,
formerly a director at Microsoft for Autonomous AI and recent
author of the acclaimed O'Reilly book Designing Autonomous AI,
Composabl is on a mission to help industrial corporations:
- Create, deploy, and monitor industrial-strength autonomous
agents that perceive and act in real-time with expert-like
decision-making, enabling them to make real-life decisions for
complex, high-value cyber-physical systems.
This is the sixteenth company receiving investment from
Momenta's Digital Industry Fund III, anchored by Advantech, the
world leader in digital industrial solutions. This is also the
first company to receive investment from Momenta's Digital Industry
Fund IV, anchored by Rockwell Automation, the world's largest
company dedicated to industrial automation and digital
transformation.
"We wanted a lead investor who understands industrial, not just
the market opportunity, but the market, the companies, the culture
of industrials, and the impact on society. That's Momenta.", said
Kence Anderson, CEO of Composabl.
"Industrials make and move the goods we use every day; they are
technical and savvy, but they are often misunderstood by big tech
and startups and venture capital because they are not software
companies."
"Composabl's dedication to empowering engineers with AI building
blocks and its focus on creating trustworthy Industrial AI agents
aligns with our vision for the Agentic future of industrial
technology," said Michael Dolbec,
Managing Partner of Momenta.
"We are observing an inflection point in industrial automation –
the evolution from programmable compute surfaces to systems that
self-learn and self-adapt within dynamic environments – from
automation to autonomy," said Jordan
Reynolds, VP, Artificial Intelligence and Autonomy, at
Rockwell Automation. "Composabl aligns with Rockwell's vision of
creating the future of industrial operations by equipping our
customers with a standardized set of tools, processes, and
interfaces to manage the transition to industrial autonomy."
Jerry O'Gorman, VP at Advantech
IIOT division, stated, "We are pleased to support this investment
in Composabl. Our leading role in edge computing and IoT solutions
gives us a deep appreciation for the value of industrial AI and
autonomy and, thus, the potential for AI-powered optimization
solutions. We see a tremendous opportunity to collaborate with
Composabl to co-create solutions to address the huge investment in
manufacturing facilities, especially in North America and Europe."
About Momenta:
Momenta is the leading Industrial Impact ® venture capital firm,
accelerating industrial innovators across energy, manufacturing,
smart spaces, and the supply chain. For over a decade, our team of
deep industry operators has helped scale industry leaders and
innovators to improve critical industries, the environment, and
people's quality of life. For more information, please visit
http://www.momenta.one.
About Composabl:
Composabl, a San Francisco-based
startup founded by ex-Microsoft engineers and led by Kence Anderson, offers an unrivaled platform
that elevates and empowers the 100M
engineers in industry to build production-ready AI with a no-code
tool kit of intelligent software building blocks. The "Intelligent
Agents" built on this platform learn to solve nuanced, fuzzy,
real-world problems that supersede the capabilities of existing
manufacturing floor automation. For more information, please visit
http://www.composabl.com.
About Rockwell Automation:
Rockwell Automation, Inc. (NYSE: ROK) is a global leader in
industrial automation and digital transformation. We connect the
imaginations of people with the potential of technology to expand
what is humanly possible, making the world more productive and more
sustainable. Headquartered in Milwaukee,
Wisconsin, Rockwell Automation employs approximately 29,000
problem solvers dedicated to our customers in more than 100
countries. To learn more about how we are bringing the Connected
Enterprise to life across industrial enterprises, visit
http://www.rockwellautomation.com.
About Advantech:
Advantech has the corporate vision to "Enable an Intelligent
Planet." The company is a global leader in IoT, intelligent
systems, and embedded platforms. To embrace the trends of IoT, big
data, and artificial intelligence, Advantech promotes IoT hardware
and software solutions with the industrial IoT platform WISE-PaaS
core to assist business partners and clients in connecting their
industrial chains. Advantech is also working with business partners
to co-create business ecosystems that accelerate the goal of
industrial intelligence. For more information, please visit
https://www.advantech.com.
Media Contact
Sandra Mueller, Momenta, +1 917
765 3600, sandra@momenta.one, momenta.one
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SOURCE Momenta