UK-based manufacturing software startup CloudNC has secured a $20 million B extension funding round, increasing its total capital raised to $128 million. This investment follows the company's last major funding round four years ago, according to co-founder and CEO Theo Saville.
CloudNC, founded in 2015 by Saville and Chris Emery, offers AI-powered CAM Assist software. This software automates aspects of Computer Numerical Control (CNC) machining, a process that uses computer-controlled machines to precisely cut or shape materials for industries such as automotive, defense, and consumer hardware.
CAM Assist integrates with existing CAM systems like Autodesk Fusion or Mastercam. It assists machinists and programmers by selecting tools, approach directions, and cutting parameters, then drafting the necessary code for CNC machines. Saville stated that the software aims to enhance the efficiency and productivity of skilled workers rather than eliminate expert judgment.
More than 1,000 machine shops worldwide currently utilise CAM Assist, with 80% of CloudNC's customer base located in the U.S. The new funding, led by Nimble Ventures and including Calculus Venture Capital, Entrepreneur First, and Lockheed Martin's venture arm LM Capital, will support wider adoption of CAM Assist, strengthen market operations, and facilitate expansion into new markets.
CloudNC also plans to develop new products, including Quote Agent, which is set to launch next month. Quote Agent is designed to help manufacturers quickly assess the estimated cost and risk of new projects.