Author: Jon Herlocker
Tignis Announces Investment of $1 Million from BMNT, Completes Enterprise Accelerator Program with H4XLabs to Accelerate Growth of Company’s First Commercial Product
New AI Tool Set For Manufacturing and Process Control Puts the Power of Machine Learning in the Hands of Non-Data Scientists
Seattle, WA - Tignis, a technology innovator in AI-Powered process control with a physics and engineering foundation, today announced that it has received an investment of $1 million from innovation company BMNT as well as completed the enterprise accelerator program with H4XLabs to accelerate the growth of the company’s first commercial product.
The new product, called PAICe Product Suite (announced separately today), is an AI and Machine Learning tool suite for manufacturing and process control that puts the power of Machine Learning in the hands of non-data scientists. The PAICe product suite accelerates the ability to build, validate and deploy machine learning enabled solutions in the manufacturing and process industries, with an initial focus on semiconductor manufacturing, oil and gas processing and energy. It includes a brand new, low-code programming language built by Tignis that is the first language designed specifically to build machine analytics on digital twins, as well as the ability to utilize surrogate machine learning models created by Tignis that are more accurate and up to one million times faster than physics-based simulations.
“The investment from BMNT was a huge vote of confidence in the Tignis technology and team, and that together with support from BMNT’s enterprise accelerator enabled us to commercialize more powerful AI capabilities faster for industrial and manufacturing customers,” said Jon Herlocker, founder and CEO of Tignis.
“BMNT selected Tignis as part of the enterprise accelerator which sources next-generation enterprise use cases,” said BMNT CEO Peter Newell. “Tignis’ physics-based approach to digital twins has a compelling capability to address differences between an ever-increasing complexity of systems.”
Tignis has raised $7.4M in angel and seed funding since its founding in 2017. Investors include Clear Ventures founder Chris Rust, former Microsoft Executive/VMware CEO Paul Maritz, former GE Digital CTO Harel Kodesh, and Ashmeet Sidana of Engineering Capital.
About Tignis: Headquartered in Seattle, Tignis (www.tignis.com) is an investor-backed company specializing in AI-powered process control with a physics and engineering foundation. The company builds innovative software solutions that use AI and Machine Learning to improve process reliability and control. Tignis products equip process and operations engineers with the tools necessary to design, test and implement AI projects, and ensure the successful implementation of both predictive maintenance and AI process control initiatives. Its technology is deployed in hundreds of facilities worldwide.
About BMNT, Inc.: BMNT is an internationally recognized innovation consultancy and early-stage tech accelerator that is changing the future of public service innovation. Founded in Silicon Valley, BMNT has offices in Palo Alto, Washington DC, Austin, London, and Canberra. Visit www.bmnt.com.
ABOUT H4XLABS: H4XLabs is BMNT’s enterprise accelerator, providing specialized support for Deep Tech company founders tackling hard problems from concept through product deployment and scaling. Visit http://www.h4xlabs.com