At the beginning of last year Simscale announced a Series C financing round of €27 million. The round was led by New York-based investor Insight Partners. Earlybird, Union Square Ventures, June Fund, Vito Ventures, Bayern Kapital, and High-Tech Gründerfonds also participated in the financing round. Nine months later, the startup has raised an additional €25 million from its investors. The round is led by Draper Esprit and Insight Partners. Earlybird, June, Vsquared, and USV are participating in the investment. The total volume of the Series C round thus rises to €52 million.
Simscale: “Hundreds of thousands of users and millions of simulation jobs”
Simscale operates offices in Munich and Boston, Massachusetts. According to the company, Munich companies the world's first SaaS application for engineering simulations. Founded in 2012, the company aims to simplify the use of previously expensive computer-aided engineering (CAE) software. Many existing CAE solutions are difficult to use and cannot be scaled without the use of expensive hardware and software, the company says. With the new funding, the Munich-based company plans to expand into new industries and applications, such as rotating machine parts, electronics, and the automotive industry.
David Heiny, Co-Founder and CEO of Simscale says:
"Our vision is to make engineering simulation a standard tool for every engineer. With hundreds of thousands of users and millions of simulation jobs, we have made significant progress in recent years."
