CloudNC, behind AI software for precision machining, has raised £15 million in new investment capital.
Computer Numerical Control (CNC) is an automated manufacturing process where a computer program controls factory tools and machinery.
CloudNC’s lead product, CAM Assist, uses AI to greatly reduce the time required to create CNC machining strategies and toolpaths, allowing teams to move from design to production faster and enabling skilled operators to increase their output.
Its technology is now used by more than 1,000 machine shops globally, including hundreds in the US, and its customer base is also growing rapidly in new markets, where the funding will help support further customer adoption and market development.
The funding is led by Nimble Ventures, a US-based venture investor, with participation from other investors including Calculus Venture Capital, Entrepreneur First and LM Ventures, Lockheed Martin’s venture capital fund.
The funding will also support the development and launch of new products, including Quote Agent, an AI solution for quoting and estimating that will be available this year.
Theo Saville, CEO and co-founder of London-based CloudNC, said: “Machine shops everywhere are under pressure to quote and program faster, and deliver more with the people and machines they already have.
“This investment allows us to stay focused on what matters most to our customers: making CAM Assist even more effective at accelerating daily production, expanding into more markets, and developing new AI products that address critical bottlenecks across machining workflows.”
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John Burbank, founder of Nimble Ventures, said: “CloudNC’s automation of CNC will enable massive increases in onshoring of manufacturing and global production of mission-critical components.”