Munich engineering simulation provider raises €25 million
This brings the total raised in the Series C to approximately US$60 million.
SimScale provides a web-based platform for engineering simulation, including computational fluid dynamics (CFD), finite element analysis (FEA), and thermal simulation tools in a manner similar to another startup OnScale Inc. (Cupertino, Calif.).
SimScale announced its Series C in January 2020 €27 million (about US$31 million). The additional investment was led by Draper Esprit and Insight Partners with participation from existing investors Earlybird, June Fund, Vsquared Ventures, and Union Square Ventures.
The company said it plans to use the funds to expand into other markets including rotating machinery, electronics, and automotive by adding additional simulation capabilities. Based in Munich, Germany, SimScale was founded in 2012.
SimScale said it has more than 300,000 active users of its SaaS offering.
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