# Conundrum Industrial

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/conundrum-industrial

- Industry: Software
- Headquarters: Cambridge, UK
- Website: www.conundrum.ai
- Total disclosed funding: $3.7M
- Latest round: Seed (Apr 20, 2021)
- Investors on record: 1

## About

Conundrum Industrial Limited specializes in AI-driven Advanced Process Control solutions, enhancing real-time process management in industrial sectors, particularly metals and mining.Founded in 2017 in Cambridge, UK, Conundrum Industrial Limited focuses on developing AI-driven solutions for industrial process control. The company was initiated by founders Declan Malone, Jake Lee, and Viktor Portnov. Conundrum has executed 2 deals, with the most recent funding occurring on April 20, 2021, when it raised USD 2.25 mn in Seed funding from Speedinvest. This round valued the company at USD 12.7 mn post-money.Conundrum's primary offering is its AI-driven closed-loop Advanced Process Control (APC) platform, designed to enhance real-time process control across various industrial applications, particularly in the metals and mining sectors. This platform utilizes sophisticated algorithms for predictive and adaptive process management, enabling dynamic control that adjusts to operational changes instantly. It aims to optimize throughput, energy savings, and overall operational efficiency through a suite of data management tools, dashboards, and visualization features like Process Flow Diagrams. Since its introduction in 2018, the platform has been implemented in nine plants across seven countries, impacting clients in diverse geographical markets including North America, Europe, and Asia. The end users of Conundrum's solutions are primarily industrial operators and management teams seeking to improve efficiency and decision-making within their production processes.Conundrum has reported an increase of over USD 130 mn in earnings before interest, taxes, depreciation, and amortization (EBITDA) since its inception. The company generates revenue primarily through partnerships and subscription-based service agreements with its clients, who benefit from ongoing support and access to the platform’s features. Transactions typically involve long-term contracts that provide customers with continuous access to the platform and its updates, essential for maintaining operational excellence. The pricing structure is designed to align with the scale of operations, reflecting the complexity of the services and the value derived from enhanced process control. Conundrum’s solutions, including its flagship APC platform, are tailored to meet the specific needs of its B2B client base, ensuring that each partnership is customized to optimize plant operations effectively.Conundrum Industrial Limited plans to leverage its recent Seed funding of USD 2.25 mn, raised on April 20, 2021, to enhance its product offerings and expand into new markets. The funds will support the development of new features for its APC platform and facilitate entry into markets in South America and Africa by 2023. The company aims to broaden its geographical footprint and increase its operational capabilities to better serve a diverse clientele.

## Funding rounds

- Seed, Apr 20, 2021, $2.3M — Speedinvest
- Seed, Dec 26, 2018, $1.5M — Speedinvest

## Investors

- Speedinvest (https://capitalatlas.ai/funds/speedinvest) — Seed