CloudNC secures £36.7m Series B funding led by Autodesk to advance manufacturing software
The Series B round was led by Autodesk with backing from Lockheed Martin and British Patient Capital.
CloudNC develops advanced software that enables factories to autonomously manufacture precision parts. The company combines computer science expertise with its own aerospace accredited facility in Essex to streamline industrial production.
CloudNC has secured £36.7m in a Series B funding round led by Autodesk, with participation from Lockheed Martin and British Patient Capital. Returning backers Atomico, Episode 1 Ventures and QVentures also joined the raise. The fresh capital will be deployed to further develop the company software and expand its manufacturing operations in Essex.
The investment highlights growing interest in manufacturing automation, as industrial facilities grapple with labour shortages and supply chain vulnerabilities. CloudNC aims to simplify precision machining through software that automates tool selection and CNC machine programming.
From the founder
"When people think of manufacturing, they tend to think of robotic car factories, and don’t realise that the industry is dominated by craft processes reliant on dwindling expert knowledge. This makes it incredibly complex to get things made, stifling the pace of innovation,"
Theo Saville
CEO and co-founder at CloudNC
Investor perspective
"Our customers are facing constant challenges: disrupted supply chains, skills and labour shortages and having to control costs in a high inflation environment. CloudNC’s bold vision is impressive and their solution will soon allow anyone, from hobbyists to high-tech aerospace companies, to order and have parts delivered to them anywhere in the world with the click of a button,"
Stephen Hooper
vice president of Design & Manufacturing, Cloud Solutions, Autodesk
Use of funds
- 01Continue product development
- 02Scale operations
Investors
Stephen Hooper
Autodesk
Chris Moran
Lockheed Martin
British Patient Capital
Atomico
Episode 1 Ventures
QVentures