Today additive manufacturing software startup, Ai Build, has raised a Series A round of $8.5 million led by IQ Capital, bringing the company’s funding to $13.5 million.
Ai Build offers manufacturers a cloud-based solution, designed to reduce costs, lead times and material waste in the additive manufacturing process which has historically suffered from being laborious and error-prone. The company aims to eliminate all inefficiencies caused by human error to make the manufacturing process simpler, more intelligent, sustainable, and cost-effective.
It partners with major manufacturing firms, including Boeing, to expand the use of additive manufacturing in large-scale industrial applications, such as specialised tooling and end-use components in aerospace, automotive, and energy sectors. Customer benefits include a 65 percent decrease in failed production attempts and a 90 percent increase in overall build efficiency.
Daghan Cam, Co-founder and CEO at Ai Build, shared:
“Despite its clear economic and environmental benefits, manufacturers have difficulty implementing additive manufacturing at an industrial scale. This is due to concerns about its reliability and ease of adoption.
Automation and smart use of data is the solution to this problem.
By partnering with Nikon as a leading technology provider who has a grand vision for the future of manufacturing, and IQ Capital as a deep-tech investor with a proven track record of supporting global businesses, we are well positioned to achieve our goal for automating the factories of the future.”
According to Mason Sinclair, Principal at IQ Capital:
“We’re excited to be working with Ai Build as they bring their automated platform for additive manufacturing to the global market. AM represents a $16bn manufacturing industry segment and is growing rapidly at over 20 percent per annum.”
Ai Build will use the funding to accelerate its product roadmap, allowing it to onboard more customers with higher automation and AI capabilities. Investment will also enable the opening of a subsidiary in the US, and continued European expansion.
Lead image via Ai Build.
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