HTGF and Bayern Kapital were among the investors for the TUM engineering design software spinout, with the series C funding going to product development and operational expansion.
SimScale, a Germany-based computer-aided engineering planning software spinout of Technical University Munich, has completed a €27m ($29.5m) series C round led by venture and private equity firm Insight Partners.
Bavarian state-owned investment firm Bayern Kapital and public-private partnership High-Tech Gründerfonds (HTGF) also featured in the round, as did Earlybird, Union Square Ventures, June Fund and Vito Ventures.
Founded in 2012, SimScale offers web-based simulation software that relies on high-fidelity physics to help engineering firms try out aspects of product designs ahead of manufacturing.
The software is differentiated on its support for computational fluid dynamics and finite element analysis, tests typically carried out from purpose-built systems at the client’s premises.
SimScale’s platform also processes multiple designs in tandem so that the user can quickly select an optimum approach.
The series C cash will support SimScale’s roadmap for product development and operational growth. Joshua Fredberg, operating partner at Insight Partners, has joined the company’s board of directors.
The press release stated June Fund previously led an otherwise undisclosed funding round for SimScale in 2017.
Union Square Ventures had led the spinout’s series A round, also of undisclosed size, in 2015 with contributions from both Earlybird and angel investor Axel Bichara.
HTGF and Bayern Kapital joined Earlybird and assorted angels for a round of undisclosed size in 2014, after the former pair had invested together with an angel consortium the previous year.
