Vancouver, BC and Delft, Netherlands, July 18, 2022 (GLOBE NEWSWIRE) -- Chrysalix Venture Capital, a global technology venture capital firm that specializes in transformational industrial innovation, announces a new investment in Luffy AI, the next generation in Adaptive Intelligence (AI) for the control and optimized performance of robotics, machine and industrial processes. At the core of Luffy’s control solution is a new, generalizable AI capability that enables control systems to constantly learn and evolve their structure to what’s happening around them, making them more resilient and robust than traditional AI structures.
Luffy’s technology can be applied to dynamic, non-linear control challenges for both industrial machines and large industrial processes. The solution brings economic advantages to not only the most complex control challenges but also opens up new machine control applications that today’s systems are unable to practically address. Example markets include: petrochemicals, manufacturing, chemicals, metals and mining, and aviation.
The technology brings advantages from combining simpler digital twin models with self-optimising neural networks. With greater ability to adapt to uncertainty or unanticipated events, it has lower maintenance costs and greater explainability than conventional AI approaches.
“Chrysalix is very excited to team up with Luffy. There is great potential for this technology to positively impact a very wide range of high value control problems,” said Dr. Charles Haythornthwaite, Senior Partner at Chrysalix Venture Capital. “Adaptive control is central to Industry 4.0 to improve the economic and environmental performance of industrial processes. The characteristics of both a step-change in capability and cost advantage was very appealing.”
“We are very excited to be working with Chrysalix Venture Capital,” said Dr. Matthew Carr, Co-founder & CEO of Luffy AI. “Chrysalix has deep expertise in bringing disruptive industrial technology to market, which makes them the perfect partner for our adaptive AI technology. Neural networks that can learn and adapt are a key technology for Industry 4.0 that will allow for improved energy and process efficiency. Already in a position to demonstrate the technology, this seed funding will put Luffy on a path to be at the forefront of the Industry 4.0 movement.”
The Chrysalix RoboValley Fund invests in intelligent systems, Industry 4.0 and the Factory of the Future, enabled by AI, IoT and sensor technologies to achieve significant improvements in productivity and critical business processes. Investors in the fund include Fortune 500 companies, leading corporates, financial institutions, family offices and universities. For more information about Chrysalix, please visit chrysalix.com and for more information about Luffy AI, please visit luffy.ai.
About Chrysalix Venture Capital
Chrysalix is a technology focused venture capital firm that builds, mentors and connects high growth companies. Founded in Vancouver, Canada in 2001, and with offices also in Delft, Netherlands, Chrysalix has built its reputation on bringing disruptive innovation to the world’s largest industries by focusing on where technology meets physical science. The firm’s investments include breakthrough technologies like smart mining, power conversion chips, sensors for process automation and control, fast charging electric vehicle infrastructure, battery intelligence, CO2 capture, wastewater management, and fusion energy. Chrysalix has one of the strongest investment teams in the industry with deep energy, industrial technology and entrepreneurial expertise, and is backed by more than 20 international blue-chip industrial and financial investors. The Chrysalix RoboValley Fund is the firm’s second fund under management focused on industrial innovation.
About Luffy AI
Luffy AI has developed adaptive neural networks that allow learning and adaption at the edge. Their AI control systems can learn the nuances of the process being controlled and adapt to changes over time to maintain optimal process efficiency. The technology is currently undergoing commercial trials with two Industry 4.0 OEMs and is generally suitable for industrial processes that are sensitive to environmental parameters, feedstock changes, or generally difficult to tune. Over the next 18 months, Luffy will use the seed funding to build out the core technology framework, carry out commercial trials and refine their product offering.
