Mavarick AI raises €1.3m in pre-seed funding led by Act VC to expand its manufacturing software.
The pre-seed round was led by Act VC to support platform development and team expansion.
≈ £1.1M at €1 = £0.8599 on 7 May 2024
Irish startup providing artificial intelligence software to help factories optimise manufacturing operations and reduce environmental impact.
Mavarick AI has secured €1.3m in pre-seed funding led by Act VC, with participation from various founders. The company builds artificial intelligence tools designed to help manufacturing facilities improve efficiency and support sustainability goals.
The capital will be directed towards team expansion, platform development, and scaling operations. Mavarick AI currently works with major automotive clients such as VW Group to advance net zero initiatives.
Co-founders Dr Paul Byrnes and Koen Jasper established the business to modernise traditional factory management through real-time data analysis.
From the founder
"We believe that every factory, regardless of size or location, should have access to the transformative power of AI. We want to give every factory an AI Data Analyst trained in that unique environment. We are democratising applied AI and levelling the playing field for sustainable manufacturers around the world."
Paul Byrnes
Co-founder at Mavarick AI
Investor perspective
"Manufacturing is on the verge of a data-driven revolution but these are complex problems. This team has a unique ability and understanding of these problems and have a chance to build real value for manufacturers."
Andrew O'Neill
Principal, Act
Use of funds
- 01Grow the team
- 02Continue product development
- 03Scale operations
Investors
Categories
About the company
Mavarick AI
Mavarick AI develops artificial intelligence platforms to improve manufacturing sustainability and efficiency.