Momenta Leads Investment in Composabl, Expanding Industrial AI and Autonomy

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.

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, [email protected], momenta.one

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