CloudNC raises $20m from Nimble Ventures and LM Ventures to expand operations and launch an AI quoting tool
Nimble Ventures led the financing round with participation from Lockheed Martin's fund, Calculus Venture Capital, Entrepreneur First, and LM Ventures.
CloudNC develops software that automates computer numerical control programming for precision manufacturers.
CloudNC has secured $20m in fresh capital to scale its operations and prepare for the rollout of a new quoting tool. Nimble Ventures led the financing round, with continued participation from Lockheed Martin through its investment arm, alongside Calculus Venture Capital, Entrepreneur First, and LM Ventures.
The London-based business builds artificial intelligence software designed to accelerate machining operations, notably through its CAM Assist product. The company plans to direct the proceeds toward broadening its market presence and launching Quote Agent later this year.
The investment also follows strategic efforts to secure federal certifications for public sector deployment in the United States, positioning the firm alongside existing clients such as Lockheed Martin.
From the founder
"Quoting is one of the biggest hidden bottlenecks in precision machining: move too slowly, and shops can lose the opportunity, or price inaccurately and they can lose margin once the job reaches production,"
Theo Saville
Co-founder at CloudNC
Investor perspective
"CloudNC’s automation of CNC will enable massive increases in onshoring of manufacturing and global production of mission-critical components."
John Burbank
Founder, Nimble Ventures
Use of funds
- 01Expand into international markets
- 02Continue product development
