Slingshot Simulations secures £3m Series A round led by Northern Gritstone
Northern Gritstone led the Series A investment, with backing from Mercia and the Northern Powerhouse Investment Fund.
Slingshot Simulations provides digital twin and decision intelligence software to help organisations model complex data. The company emerged as a spinout from the University of Leeds.
Leeds-based digital twin specialist Slingshot Simulations has secured £3m in Series A funding. The investment was led by Northern Gritstone, with participation from Mercia and the Northern Powerhouse Investment Fund. The capital will be deployed to accelerate product development and scale the customer base for the company SaaS platform.
From the founder
"We’re really excited to be backed by the Northern Gritstone team and continue to have the support of Mercia and the Northern Powerhouse Investment Fund. With this new funding we can realise our vision more quickly – enabling anyone, anywhere to access the power of digital twins and decision intelligence and make a quantifiable difference to some of the biggest challenges we face today. 2023 will be an exciting year as we accelerate the release of cutting-edge capabilities on this journey."
David McKee
Founder and CEO at Slingshot Simulations
Investor perspective
"As the digital twin market continues to expand, Slingshot Simulations’ ambition to produce this technology for a wider range of businesses can accelerate the sector’s development. The company’s ground-breaking approach is representative of the thriving innovation in the north of England that Northern Gritstone was created to support. Slingshot Simulations, which marks our first Leeds-based investment, is an excellent example of Northern Gritstone’s investment approach and we look forward to supporting its continued growth journey."
Duncan Johnson
CEO, Northern Gritstone
Use of funds
- 01Continue product development
Investors
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About the company
Slingshot Simulations
Digital twin and decision intelligence software provider.