Nominal, an Austin-based startup specialising in an AI platform for engineering and testing complex hardware such as aircraft and nuclear reactors, has announced a $240 million Series C funding round. This latest investment, led by Lightspeed Venture Partners and co-led by Insight Partners, values the company at $3 billion.
This new valuation represents a tripling of its worth in eight months, following a $155 million Series B extension announced in March, which valued the company at $1 billion. That earlier round was led by Trae Stephens at Founders Fund.
The four-year-old company states it serves 80 commercial and government organisations. Key customers include the defense company Anduril. In October, Nominal also secured a $71.2 million Strategic Funding Increase (STRATFI) investment from the U.S. Air Force, a programme requiring matching funds from outside the Air Force.