Monolith AI, the leading Artificial Intelligence Engineering (AIE) software, has announced £8.5 million in Series A funding, taking its total capital raised to £10.6 million.
The round was led by New York-based global private equity and venture capital firm Insight Partners, with existing investors Pentech and Touchstone supporting the round. The founder of Formula E and Extreme E, Alejandro Agag, Apex Black, and the Stanford Angels of the UK also participated in the round.
The investment will allow Monolith AI to grow its international client base and continue to develop its groundbreaking 3D machine learning technology that accelerates product development workflows by virtually predicting product performance.
Company: Monolith AI LTD
Raised: £8.5M
Round: Series A
Lead Investors: Insight Partners
Additional Investors: Pentech, Touchstone, founder of Formula E and Extreme E, Alejandro Agag, Apex Black, and the Stanford Angels of the UK
Company Website: https://www.monolithai.com/
Software Category: Artificial Intelligence Engineering (AIE) software
About the Company: Monolith AI is a software company using the latest in machine learning, and data science helping engineers to significantly improve the product development process. Monolith enables companies to monetize on their old simulation and test data by using it to anticipate the behavior of new products. Companies can optimize their R&D process by reducing the number of simulations, tests, and prototypes required to develop a new product delivering faster and better products.
Source: https://aithority.com/saas/uk-ai-engineering-software-company-monolith-ai-raises-8-5-million-in-series-a-funding/