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CloudNC raises $20M to automate manufacturing’s most pressing bottlenecks

UK startup CloudNC raised $20 million to enhance its AI-powered CAM Assist software that automates CNC machining processes. Aiming to improve efficiency for skilled workers, the funding will help scale adoption and develop new products, including Quote Agent, which will assist manufacturers in assessing project costs. CloudNC has raised a total of $128 million since its inception in 2015.

Key points

  • CloudNC raised $20 million in a funding round led by Nimble Ventures, totaling $128 million since its establishment.
  • The startup, founded by Theo Saville and Chris Emery in 2015, specializes in AI-powered CAM Assist software for CNC machining.
  • Traditional CAM systems require manual input for machining processes; CloudNC's CAM Assist acts as an expert assistant, automating initial strategic decisions.
  • Over 1,000 global machine shops use CAM Assist; 80% of its clients are based in the U.S.
  • The funding will boost market operations, expand into new areas, and develop products like Quote Agent, aimed at enhancing project cost and risk assessments for manufacturers.
  • Saville connected manufacturing needs with geopolitical trends, highlighting job skill shortages and the need for faster quoting and programming.

Why it matters

  • The integration of AI in manufacturing reflects broader IT trends emphasizing automation and efficiency in various sectors by 2025.
  • The emphasis on reshoring in U.S. manufacturing aligns with trends towards localizing critical supply chains.
  • The shortage of skilled labor in manufacturing has led companies to adopt technology to maintain competitiveness.

CloudNC's successful funding round symbolizes the growing intersection of automation and manufacturing, showcasing how AI solutions are essential for overcoming industry bottlenecks and adapting to modern challenges.