SimScale, a Munich-based Saas platform for engineers, has announced the addition of €25 million to its already successful Series C funding. Including the add-on, this now brings the firm’s round to a robust €52 million.
The Series C extension round was co-led by Draper Esprit (who seem to be on a Germany sweep as of late; SimScale, Schuttflix, and Coachhub) and New York-based Insight Partners, with Earlybird, June, Vsquared, and USV also participating in the round.
The money will be used to expand into new verticals including rotating machinery, electronics, and automotive.
Company: SimScale GmbH
Round: Series C extension
Funding Month: October 2021
Lead Investors: Draper Esprit and Insight Partners
Additional Investors: Earlybird, June, Vsquared, and USV
Company Website: https://www.simscale.com/
Software Category: End-to-end simulation platform
About the Company: SimScale provides a web-based platform that has been eliminating some of the traditional and expensive stumbling blocks involved in the computer-aided engineering (CAE) software process. By providing a highly accurate, end-to-end simulation platform, SimScale gives any organization across the globe immediate access to an economically affordable answer to some of the engineering world’s most pressing problems. The platform provides engineers with both late-stage design validation as well as early-stage simulation and counts over 300,000 users collaborating in real-time across R&D stages and cycles, applications, and industries.