AI Build, a London-based provider of software as a service, has raised $8.5 million. The company has received $13.5 million in capital as a result of a round of funding led by IQ Capital.
With increased AI and automation capabilities, Ai Build will be ready to onboard additional customers. It will use the funding to accelerate its product roadmap. Additionally, investment will make way for the establishment of a US subsidiary and sustained European expansion.
The cloud-based solution offered by Ai Build to manufacturers is intended to cut down on costs, lead times, and material waste in the method of additive manufacturing, which used to be labor-intensive and prone to mistakes.
To increase the application of additive manufacturing in large-scale industrial applications, such as specialized machinery and end-use components in the aerospace, automotive, and energy industries, it works with significant manufacturing firms like Boeing.
Daghan Cam, Co-founder and CEO at Ai Build, shared: “Despite its clear economic and environmental benefits, manufacturers have difficulty implementing additive manufacturing at an industrial scale. This is due to concerns about its reliability and ease of adoption. Automation and smart use of data is the solution to this problem. By partnering with Nikon as a leading technology provider who has a grand vision for the future of manufacturing, and IQ Capital as a deep-tech investor with a proven track record of supporting global businesses, we are well positioned to achieve our goal for automating the factories of the future.”
According to Mason Sinclair, Principal at IQ Capital said, “We’re excited to be working with Ai Build as they bring their automated platform for additive manufacturing to the global market. AM represents a $16bn manufacturing industry segment and is growing rapidly at over 20 percent per annum.”
About AI Build
AI Build is upending the global additive manufacturing market. Our clients are tier 1 businesses in the energy, marine, construction, aerospace, and motor vehicle sectors.
Their ability to fully automate the process of additive manufacturing from plan to print thanks to our cutting-edge software significantly increases speed, quality, scalability, and usage range throughout the whole company. We collaborate and partner with an expanding network of hardware producers, and we have the support of elite investors.