Germany-based engineering simulation software provider SimScale has raised an undisclosed amount from a consortium including German corporate-backed fund High-Tech Gruenderfonds (HTGF) and Bayern Kapital.
Other investors in the series A round included venture capital firm Earlybird Venture Capital and a consortium of business angels.
HTGF, Bayern Kapital and an angel consortium made the first investment in SimScale at the beginning of 2013 after the company’s spin-out of Munich’s technical university TU München in 2011.
The SimScale platform was officially launched in the second half of last year and has attracted several thousand engineers and designers from around the globe as users since then.
David Heiny, co-founder and managing director of SimScale, told Global Government Venturing by email through a press officer: “Our investors to date, including High Tech Gruenderfonds, Bayern Kapital and angel investors, have been instrumental in not just providing the financial backing, but solid business advice and direction as we began our startup from idea to implementation.”
– A version of this article originally appeared in Global Government Venturing.