Euler, the Icelandic software startup, has closed a €2 million seed funding round co-led by Iceland’s Frumtak Ventures and Nordic industrial tech investor Kvanted. Frumtak Ventures Partner Ásthildur Otharsdóttir and Kvanted Partner Eerik Paasikivi join the Euler board.
Valued at over $20 billion, the global 3D-printing industry is positioned to enhance production by enabling lighter, more complex parts, reducing material waste and emissions, and complementing traditional manufacturing. However, large-scale adoption has been constrained by challenges in meeting stringent safety and performance standards, particularly in regulated sectors such as aerospace and defence, where minor disruptions can cause print failures and, without real-time monitoring, defects are often detected only after production, leading to costly rework or scrap.
Euler’s platform introduces automated, real-time monitoring that flags potential defects before they occur, helping manufacturers save time and resources and produce more reliable parts at scale.
A spinout of the Technical University of Denmark, Euler applies deep AI and process expertise to enhance fault detection for laser powder bed fusion (LPBF) and selective laser sintering (SLS). The system integrates with leading 3D printers, using built-in camera data and AI algorithms for analysis without additional, costly monitoring hardware.
Additive manufacturing has yet to live up to its hype, despite its disruptive potential. Challenges around cost, scalability, and quality assurance remain. Euler is already helping manufacturers overcome these issues, and this investment will enable us to continue our growth and expand exponentially, solidifying additive manufacturing as a reliable production process,
said Dr Eythor Runar Eiriksson, co-founder and CEO of Euler.
Euler’s customers include Alloyed (the additive manufacturing startup), KMWE (serving aerospace, semiconductor, healthtech, and industrial markets), and research organisations such as the Danish Technological Institute and the Korea Institute of Industrial Technology.
In a white paper with the Danish Technological Institute, Euler reported a 77 per cent reduction in time spent on failed builds, and more than a 20 per cent increase in revenue through improved overall equipment effectiveness.
Euler will use the investment to accelerate platform rollout, expand its team, and scale product development. The company has also begun protecting its core technology, initiating trademark registrations and filing three patent applications.
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