Subject: VEN
Momenta leads Series A investment round in SprayVision, revolutionizing industrial coating operations.
Momenta leads Series A investment in SprayVision, driving advancements in industrial coating operations through innovative process control and simulation technologies.
ZURICH and PRAGUE, June 26, 2024 /PRNewswire-PRWeb/ -- Momenta, the leading Industrial Impact® venture capital firm, has led the Series A investment round in SprayVision, an Ostrava, Czechia-based leader in process control and simulation of paint coating operations. Momenta invested along with the participation of J&T Ventures. This strategic funding will accelerate the company's global operations, creating an even greater industrial impact.
SprayVision's intelligent coating solution enables dynamic process control and optimization of paint lines. Their innovation significantly reduces time, scrap, paint waste, and emissions. With a simulation prediction accuracy of over 98%, SprayVision empowers customers to accelerate the transition from automation to autonomous operations. The company's solutions support customers from digitizing manual processes to enhancing automation environments where human-robot collaboration is integrated into fully autonomous operations.
Petr Jahn, Co-founder and CEO of SprayVision, remarked, "We are excited to partner with Momenta, a venture capital investor that deeply understands our industrial customers and their pain points. We look forward to their practical support as we expand into North America and fully penetrate the European Automotive market. We still have a lot of work to do."
"We believe our investment in SprayVision is pivotal in accelerating the shift toward autonomy in manufacturing and bridging the expertise gaps within the labor force, "said Miroslav Kriz, Venture Partner at Momenta. "These factors are vital amid the growing resurgence and reshoring of manufacturing in the Americas and Europe."
This is the seventeenth company to receive investment from Momenta's Digital Industry Fund III, anchored by Advantech, the global leader in digital industrial solutions. This also marks the fourth company to receive investment from Momenta's Digital Industry Fund IV. The funding will boost Spray Vision's growth and innovation, solidifying the company's role in the digital transformation of coating operations.
Jerry O'Gorman, VP at Advantech IIOT (Industrial Internet of Things) division, stated, "We are pleased to invest in SprayVision. Their solution can potentially revolutionize the paint coating by significantly reducing paint consumption while enhancing quality and sustainability standards. We see great opportunities to collaborate with SprayVision to expedite their development of autonomous processes."
About SprayVision:
SprayVision specializes in the digitalization, automation, simulation, and analysis of spray patterns. Their solutions support paint lines with process control, wet paint thickness measurement, and optimal parameter settings.
About Advantech:
Advantech has the corporate vision to "Enable an Intelligent Planet." The company is a global leader in IoT (Internet of Things), 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.
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.
Media Contact
Sandra Mueller, https://www.momenta.one/, +1 (917) 765 3600, [email protected], https://www.momenta.one/
SOURCE Momenta
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