Conundrum
Predictive maintenance, optimization and quality control based on state-of-the-art AI technologies.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
$4.0m | Series A | ||
| Total Funding | 000k | ||
| USD | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 48 % | 129 % | 61 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Conundrum is a technology firm specializing in artificial intelligence for heavy industry, with a strategic focus on the metals and mining sector. The company provides a low-code software platform designed to accelerate the implementation of AI-powered Advanced Process Control (APC) solutions for mineral processing plants and refineries.
Established with Russian roots and headquartered in the UK, Conundrum secured its initial seed funding of $1.5 million in February 2019, led by Speedinvest, to facilitate expansion into European and US markets. By June 2022, the company's total funding had reached $6.77 million. Since 2018, its solutions have been operational in 9 plants across 7 countries, reportedly increasing EBITDA by over $130 million for its clients.
The core of Conundrum's business is its AI-driven platform that enables real-time, closed-loop process optimization. This technology is applied to critical operations such as crushing, grinding, flotation, and smelting to increase throughput, enhance recovery rates, and improve energy efficiency. The platform includes a comprehensive suite of tools for plant-wide optimization, physics-informed machine learning models, and data quality management. It offers features like interactive process flow diagrams and customizable dashboards, which can be deployed on-premise or in the cloud to turn complex data into actionable insights. Conundrum operates on a 100% partner-driven model, utilizing a global network of trusted partners to deliver localized support and expertise.
Keywords: industrial AI, metals and mining technology, advanced process control, process optimization software, low-code AI platform, mineral processing AI, mining efficiency, flotation optimization, grinding circuit control, smelter automation, predictive maintenance, digital twin mining, industrial automation, throughput enhancement, recovery rate improvement, energy efficiency mining, machine learning industrial, Speedinvest portfolio, asset performance management, operational intelligence