CloudNC, a UK-based startup specializing in manufacturing software, has raised $20 million in a Series B extension round, increasing its total funding to $128 million. Founded in 2015, the company focuses on AI-driven CAM Assist software that automates aspects of CNC machining, aiming to improve efficiency for skilled workers rather than replace their expertise.
The new funding will support the expansion of CAM Assist, enhance market operations, and facilitate the development of new products like Quote Agent, which helps manufacturers evaluate project costs and risks. This move comes amid a growing demand for automation in manufacturing, particularly as companies face skilled labor shortages and geopolitical shifts.
With the new funding, CloudNC aims to enhance CAM Assist and launch Quote Agent, addressing the urgent need for efficient manufacturing solutions amid labor shortages. Watch for their market expansion and potential partnerships that could reshape CNC machining practices.