OnScale Raises $10 Million from Intel Capital and Gradient Ventures
OnScale helps companies advance the development of new technologies like semiconductors and MEMS, 5G, next-gen medical devices, and autonomous vehicles through engineering simulation.
April 12, 2019
OnScale, provider of cloud-enabled engineering simulation software, announces $10M in Series A funding led by Intel Capital and Gradient Ventures, Google’s AI-focused venture capital fund. Additional investors include Thornton Tomasetti, Stage 2 Capital, Cultivation Capital and CampbellKlein.
OnScale says it will use the new investment to drive global expansion, respond to increasing demand, and accelerate development of its Computer-Aided Engineering (CAE) solutions for real-world engineering applications.
OnScale CAE tools are based on multiphysics solvers developed and validated by one of the largest engineering consulting firms in the world for DARPA, the U.S. Department of Defense (DOD) and large commercial customers. The CAE solvers were architected for parallel mainframe computers to handle very large engineering simulation problems and are designed for modern cloud-based, high-performance computing. OnScale was spun out of Thornton Tomasetti in 2017.
Current OnScale solutions address the simulation needs of Semiconductor and MEMS, 5G mobile, next-gen biomedical, infrastructure safety and autonomous vehicle markets. The company is focusing on improving OnScale’s user interface, expanding the breadth of physics solver capabilities, and forming partnerships with other software companies.
“With strategic investors like Intel Capital and Google’s Gradient Ventures, OnScale is well positioned to help engineers of all disciplines solve their design challenges,” said CEO Ian Campbell. “Created for engineers, by engineers, our mission is to usher in the future of engineering. With this investment, we will continue to empower innovators who are creating the future of technology.”
“As technology systems become more complex, next-generation computer aided engineering software will become integral to design and deployment,” says Dave Flanagan, vice president and senior managing director at Intel Capital. “OnScale’s highly scalable CAE solution leverages the power of the cloud and advanced multiphysics to model highly complex systems, helping customers solve the toughest design challenges.”
“Leaps in technology require paradigm shifts in engineering, and the combination of world-class multiphysics solvers, AI, and highly scalable cloud-based HPC provide an opportunity for such a paradigm shift in how we create world-changing technologies. That is why we’re excited to welcome OnScale and its team of software experts to the Gradient portfolio.” says Zach Bratun, partner, Gradient Ventures.
Sources: Press materials received from the company and additional information gleaned from the company’s website.
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