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Wednesday 22 June 2022

$45m more grist to CloudNC’s one click milling

LogoAutonomous manufacturing focused UK start-up, CloudNC has raised $45m in Series B funding. The round was led by Autodesk, with participation from Lockheed Martin and British Patient Capital and returning investors Atomico and Episode 1 Ventures. This capital injection, the largest single tranche to date, brings the total backing secured by the company since its launch in 2015 to nearly $78m.

Operating from London and Chelmsford, CouldNC develops advanced software that enables factories to autonomously manufacture precision parts. A user can upload a 3D model of any component and the software determines the tools needed, how they will be used and drafts the code to tell a computer numerical control machine how to make it. The company will use the additional monies to both further develop its SaaS offering, including integrations with CAD/CAM packages such as Autodesk’s platforms, and to expand its full-stack manufacturing capability in Essex.

Commenting on an early CloudNC funding round, we observed that it looked like the company had something up its sleeve. There had been no shortage of other valiant attempts to enable one click printing but there still remained a long way to go. The size of latest raise would suggest that our suspicions were well founded.

Posted by: Duncan Aitchison at 08:57

Tags: funding   startup   software   manufacturing   automation  

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