Momenta leads Investment in Luffy AI, Adaptive AI for Industrial Optimization
ZURICH and CAMBRIDGE, United Kingdom, June 3, 2024 – Momenta, the leading Industrial Impact® venture capital firm, has announced its latest investment in Luffy AI, a Cambridge, UK-based leader in adaptive AI for industrial control. This strategic funding aims to advance industrial processes and enhance operational outcomes.
Luffy’s Adaptive Intelligence Framework, driven by neuroplasticity, offers unparalleled computational efficiency and supports edge deployments of optimized industrial control applications. This innovative technology enables control systems to continuously learn and adapt, making them more resilient and effective than traditional AI models. By integrating simpler digital twin models with self-optimizing neural networks, Luffy’s solution provides numerous benefits, such as reduced maintenance costs, improved explainability, and a heightened ability to manage uncertainty or unexpected events.
“We chose to invest in Luffy because of their team’s deep expertise in industrial control and AI. Their solution aligns with our investment focus on adaptive industrial systems capable of learning and adjusting to dynamic environments, from automation to autonomy,” said Michael Dolbec, Managing Partner at Momenta. “Luffy’s innovative approach positions them as a catalyst for transformation, bringing tremendous potential to industrial optimization projects.”
Dr. Matthew Carr, Co-founder and CEO of Luffy AI, commented, “We are thrilled to partner with Momenta, a VC that truly grasps the industrial marketplace and the potential of Adaptive AI. Given Momenta’s well-established reputation, extensive connections, and deep experience with industrial innovation, they are the ideal partner for Luffy’s next growth phase. This investment will enable us to expand our customer base and explore new industrial applications.”
Luffy’s technology tackles complex control challenges and opens new opportunities for machine control applications in petrochemicals, manufacturing, chemicals, metals and mining, and aviation industries.
This marks the third investment from Momenta’s Digital Industry Fund IV, set to boost Luffy AI’s growth and innovation, solidifying the company’s role in the digital transformation of industrial optimization.
About Luffy:
Luffy AI creates adaptive neural networks that allow control and adaptation at the edge. Their AI control systems can learn the nuances of the process being controlled and adapt to changes over time to maintain optimal process efficiency. For more information, please visit http://www.luffy.ai.
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.
