New financing to expand company's generative design platform into new applications and global markets
NEW YORK, Nov. 18, 2021 — (PRNewswire) — nTopology, the leading generative design software, today announced it has secured $65 million in Series D funding, bringing the company's total financing to $135 million to date. The funding round was led by Tiger Global with participation from Oldslip Group as well as existing investors Root Ventures, Canaan Partners, Haystack, and New York-based global venture capital and private equity firm Insight Partners. The new capital will be used to expand the types of applications nTopology serves in the product development process and strengthen its global footprint.
nTopology's mission is to provide the next generation of design tools for engineers in the aerospace, automotive, medical device, and industrial design spaces. The company's software is built on three main technologies: implicit modeling; field-driven design; and the block system. Together, they empower users to find solutions to engineering problems in ways not previously possible in computer-aided design (CAD) software.
"Earlier in my career, I found that most of the engineering software, like CAD, was a bottleneck in driving innovative design. Our company was built specifically to solve engineers' problems, allowing them to fully utilize the power of additive manufacturing processes and fill the gaps left by these old legacy design tools," explains Bradley Rothenberg, co-founder and CEO of nTopology.
In April, the company launched nTopology 3.0, which introduced GPU acceleration to bring down the visualization time of highly complex structures from minutes to mere seconds. nTopology also collaborated with 3D printer manufacturer Stratasys to further automate the design of manufacturing aids and to streamline adoption of 3D printing for the factory floor. Its FDM Fixture Generator is a tool that automates 90% of the design work required for simple jigs and fixtures while their most recent collaboration, the Masking Fixture Module, eliminates the need for manual masking techniques. In addition, the company recently released a connector that streamlines nTopology's integration to PLM systems, giving enterprise customers a clear roadmap for enhancing their product development software stack with powerful generative design capabilities.
"nTopology customers use this software to design the most critical parts of their products," said John Curtius, Partner, Tiger Global Management. "We're excited for nTopology to emerge as the new leader in engineering software as advanced manufacturing continues to push the boundary of how products are made."
nTopology services over 300 customers, including Ford, Lockheed Martin, Honeywell, Emerson, and Wilson, and is excited to get its software to more engineers who will benefit from the product's expanding range of applications. This growth requires adding new talent to nTopology's team. In less than a year, nTopology has increased its headcount by ~40% while seeing its revenue double.
About nTopology:
nTopology was founded in 2015 to enable engineers and designers to create any geometry — no matter how complex — and meet the requirements of high-performance products. Our software is used from research through production to create breakthrough processes and products for the aerospace, automotive, medical, and consumer industries. Our customers depend on nTopology's generative design capabilities to take full advantage of new hardware, optimize parts where performance is critical, overcome design bottlenecks, and augment their traditional CAD, simulation, and engineering software stack. For more information, visit
www.ntopology.com
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SOURCE nTopology
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