SAN FRANCISCO and ZURICH, Oct. 10, 2023 — Minds.ai, a pioneering company applying AI to semiconductor manufacturing optimization and autonomy, has secured a significant investment from Momenta. Minds.ai is poised to revolutionize semiconductor manufacturing by driving significant productivity and waste reduction advancements.
The World’s Most Expensive, Complex, and Productive Factories
Semiconductors are made in factories called ‘fabs.’ Building and outfitting a new fab cost as much as $20 billion. The latest fabs are heavily automated, with highly skilled workers augmented by robust software systems.
Last year, the semiconductor industry produced more transistors than the combined quantity of all goods produced by all other companies and industries in human history. Nothing else comes close. Fabricating ever-miniaturizing semiconductors has been the most significant engineering challenge of our time.
The potential of AI in the semiconductor industry
Semiconductor device makers have already begun their journey to generate value with AI. McKinsey believes that AI can contribute between $5 billion and $8 billion annually to earnings before interest and taxes across the industry. Within the next few years, AI could generate over $35 billion in value annually, and over the longer term, AI could contribute over $85 billion. The largest share of value creation will come from using AI to reduce semiconductor manufacturing costs and begin the move to Autonomous manufacturing.
The investment from Momenta
Recognizing the immense potential in semiconductor manufacturing, Momenta decided to invest in Minds.ai. With a strong commitment to optimizing efficiency, Minds.ai offers innovative solutions that revolutionize semiconductor manufacturing processes. Through the power of artificial intelligence and machine learning, Minds.ai’s products are designed to address complex scheduling and resource allocation challenges faced by professionals in the industry.
“Minds.ai is privileged to count Momenta among our investors and board members, given their deep passion and engagement in smart manufacturing,” says Sumit Sanyal, Founder and CEO at minds.ai.
Michael Dolbec, Managing Partner of Momenta, said, “Minds.ai is pioneering deep commercial use of deep reinforcement learning for fab automation, with the potential to save hundreds of millions through productivity gains and waste reduction. They have a significant opportunity to transform semiconductor manufacturing.”
Jerry O’Gorman, VP at Advantech IIOT division, stated, “We are pleased to support this investment in Minds.ai. Our leading role in edge computing and IoT solutions gives us a deep appreciation for the value of semiconductor manufacturing operations and, thus, the potential for AI-powered optimization solutions. We see a tremendous opportunity to collaborate with Minds.ai to co-create solutions to address the huge investment in new semiconductor fabrication facilities in North America and Europe.”
This thirteenth investment from Momenta’s AIoT Ecosystem Fund, powered by Advantech, validates Minds.ai’s vision. The new funding will enable Minds.ai to extend its library of AI-enabled applications and expand its solutions to more fabs and geographies.
About Minds.ai: For more information, please visit http://www.minds.ai.
About Advantech: For more information, please visit https://www.advantech.com.
About Momenta: For more information, please visit http://www.momenta.one.
Media Contact
Sandra Mueller, Momenta Partners AG, +41415620003, [email protected], https://www.momenta.one/
SOURCE Momenta
