CloudNC raises $20M to automate CNC machining bottlenecks
What's the deal? UK-based manufacturing software startup CloudNC has raised a $20 million Series B extension, bringing its lifetime total to $128 million. Co-founder and chief executive officer Theo Saville announced the round on Wednesday.
What does it do? CloudNC builds AI-powered software called CAM Assist that automates parts of Computer Numerical Control (CNC) machining. CNC uses computer-controlled machines to cut or shape materials into precise parts for the automotive, defense, and consumer hardware industries.
The bottleneck: Before a part can be cut, a machinist or programmer must decide details like how the part is held and which tools to use. They rely on powerful computer-aided manufacturing software to work through that phase — the step CloudNC aims to automate.
Why now? Saville and co-founder Chris Emery, now chief science officer, launched CloudNC in 2015. The company's last major raise came four years ago, making this its first significant funding since.
The signal: At $20 million, the round sits above the median for its class — in the 76th percentile by size. That points to steady investor appetite for tools that automate skilled, labour-intensive steps in industrial manufacturing.
Read more: thetechstreetnow.com
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