Additive manufacturing software developer nTopology has announced the raising of $40m in its Series C funding round.
The round was led by global venture capital firm Insight Partners, with contributions coming from Grant Verstandig, Root, Canaan, DCVC and Haystack. Josh Fredberg of Insight Partners has also agreed to join nTopology’s Board of Directors, taking a seat next to former Autodesk CEO Carl Bass.
nTopology launched its nTop platform in 2019, bringing to market capabilities that would complement existing CAD technologies. The company has developed its flagship software on three pillars. Among them are fast and unbreakable geometry, which has been enabled thanks to its implicit modelling engine, a technology designed to ‘overcome the inherent limitations of traditional modelling approaches’ and handle geometries of high complexity, while keeping file sizes to only a few kilobytes. Meanwhile, nTop Platform also boasts tools that give the user precise control over spatial variations of shape, allowing for a wider spectrum of designs, and analysis and test results, so this data can be harnessed to design parts. The third pillar allows multiple stakeholders to collaborate on scalable systems ‘that encapsulate engineering knowledge, manufacturing methodologies and in-house IP’ and then be redeployed throughout the organisations.
Since bringing the nTop Platform to market last year, hundreds of engineering companies are said to have utilised nTopology’s capabilities across the aerospace, automotive, medical and consumer industries. One notable user of nTopology is BAE Systems, who earlier this year announced plans to additively manufacture 30% of its Tempest aircraft as it steps up its application of the technology. nTopology not only expects many more companies to follow suit, but also do so with the aid of its nTop Platform.
“Engineers from the aerospace and medical industries are currently leading the adoption and deployment of advanced manufacturing, so they were the first to realise the need of the powerful design tools offered by nTop Platform,” a press release announcing the Series C funding read. The company also sees opportunities in the automotive, consumer and manufacturing tooling industries.
With the support of $40m, insights from the likes of Bass and Fredberg, a partnership with Oak Ridge National Laboratory to further develop the nTop Platform and the application of industry heavyweights like BAE, the company is aiming to ensure it is in position to serve those industries.