Berlin, October 7th, 2024 – An AI-driven manufacturing solutions company Phantasma Labs has managed to determine a seven-figure investment round led by Momenta and RunwayFBU venture funds.
These funds will enable Phantasma Labs to develop the manufacturing processes efficiency across the globe and extend the geography of US and Nordic markets, where the demand for complex production planning tools is growing.
Phantasma Labs’ software, which is based on Reinforcement Learning, allows many manufacturing companies to automate production and creates plans about 30% more effective and 100 times faster, than the traditional planning methods.
This is a patented technology that is wanted by manufacturers everywhere for most companies are bleeding between three to twenty percent (3%-20%) revenue loss due to terrible production planning.
Their distinguishable feature is that Phantasma Labs creates manufacturing technology that does not require Big Data, Hence it can be applied by any business, regardless of its size.
As the market for scaffolding and shoring for construction is growing rapidly,Its estimated to reach between $12 and $15 billion, Phantasma Labs has the most efficient position across the competition.
“Phantasma Labs’s network and domain knowledge of deep industry will help us to grow in the USA significantly,”
added Ramakrishna Nanjundaiah, Founder and CEO of Phantasma Labs.
“With their would, we are well prepared to offer AI to manufacturing and be relevant.”
“Phantasma Labs’ specialization in autonomous mobility enables efficient production planning and Ken Forster, Founding Partner of Momenta, added, is creating a new level of efficiency in manufacturing.
This is well within the objectives of Momenta; watching the industries grow as a result of digital transformation.”
The funds will enable Phantasma Labs to develop its presence in the DACH region as well as achieve the US and Nordic market objectives, thus fulfilling the company’s ambition of revolutionizing manufacturing processes on a global scale.
Source: https://www.phantasma.global/blog-success-stories/momenta-and-runwayfbu-invest-in-phantasma-labs
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