Additive manufacturing software company Cognitive Design Systems (CDS) has raised 2 million EUR in funding.
Iron Hands Capital, DAA Capital Partners and SpaceFounders France all contributed to the funding round.
The company will harness the funds to boost the technological development of CDS’ Cognitive Additive Design for Additive Manufacturing (DfAM) software solution. It will also explore the expansion of the company’s geographic footprint and sales force in Europe and the United States.
Cognitive Additive has been developed to analyse the cost, feasibility and sustainability of 3D printed parts, while also integrating various modules into a range of platforms. These platforms, announced at last year's Formnext, include Synera, a low-code engineering platform, and GrabCAD Print, a software solution offered by Stratasys.
With this funding, CDS will speed up the growth of the company and enhance the integration of its technology with major CAD platforms to become a leading solution in generative design according to one of the investors.
Florent Gastaud, Managing Partner at IRON HANDS CAPITAL, commented: “We are delighted to support CDS and its management team in the next stage of its growth story. Thanks to its strong expertise, solid platform, innovative and differentiated product offering, CDS will emerge as one of the next leading manufacturable design platform in generative design. The company is now ready to capture the attractive opportunities of the European and the United States market to growing at an accelerated pace.”
“The team and I would like to extend gratitude to our investors and supporters who have shown unwavering belief in our vision and joined us on this incredible adventure,” added Vincent Ung, CDS Co-founder and COO. “We believe that modern engineering requires innovative solution, and that the key to product development is to consistently include the manufacturing factors as part of design.”
Bertrand Mueller, Founding Partner at DAA Capital Partners, offered: “We believe that the automatisation of engineering tasks and the prediction of the manufacturability and costs of any product designed in 3D is a global megatrend in the industry. CDS is uniquely positioned to benefit from this trend thanks to its state-of-the-art modelling technology.”
