CloudNC Raises €17.2 Million for AI Machining Software
London startup CloudNC secured $20 million led by US investor Nimble Ventures to scale its CAM Assist platform.
CloudNC, a London-based artificial intelligence startup specializing in precision machining software, announced it raised €17.2 million. The funding round was led by Nimble Ventures, with participation from Calculus Venture Capital, Entrepreneur First, LM Ventures, and Lockheed Martin's venture capital fund. Theo Saville, the company's CEO and co-founder, stated that machine shops globally face pressure to speed up quoting, programming, and production while utilizing existing personnel and equipment. He explained the investment enables the focus on improving CAM Assist, the firm's flagship product. This software utilizes AI to reduce the time required for creating CNC machining strategies and toolpaths. CloudNC, founded in 2015, aims to accelerate CAM programming and maximize factory output. The company stated this capital supports moving from early adoption of CAM Assist to broader commercial scale and the launch of new products.
