Draper Esprit is pleased to announce that it has co-led a €25M Series C extension round in SimScale, the SaaS platform making high-fidelity simulation technically and economically accessible to engineers worldwide, alongside Insight Partners.

Founded in 2012, SimScale’s web-based solution aims to remove the pain points of traditional, expensive computer aided engineering (CAE) software so engineering teams can focus on designing the best products. A cloud-native engineering simulation platform, the SimScale software enables engineering teams to get designs right faster by making highly accurate, end-to-end engineering simulations technically and economically accessible for any organisation, anywhere in the world.

SimScale will use the funding to expand into new industries such as rotating machinery, electronics and automotive by adding additional simulation capabilities, and to broaden its enterprise offering to larger customers to further its vision of removing barriers to entry for engineering simulations across teams, applications and industries.

Christoph Hornung, Investment Director, Draper Esprit, said:

“SimScale isn’t just creating efficiencies on the periphery of engineering. By bringing top class, traditionally in-house simulation technology into the cloud, it is primed to revolutionise an entire industry.

"With SimScale, teams from around the world will be able to work on simulation projects simultaneously, seamlessly and collaboratively, creating for the first time a truly global engineering process. The opportunities for this in terms of productivity and innovation are enormous, and are being discovered every day. We are delighted to support SimScale in its extraordinary growth.”

David Heiny, founder and CEO at SimScale, said:

“Our vision is to make engineering simulation a standard tool in every engineer’s tool kit, and accessible early in the design stage, throughout the entire R&D cycle, and across teams, applications and industries. With hundreds of thousands of users and millions of simulation jobs carried out, we’ve made significant progress towards it in recent years.

“Yet, there are still entire industry sectors that we haven’t started addressing yet, and billions of dollars in CAE market value left untapped,” continued Heiny. “This additional investment allows us to double-down on our strategy and accelerate our pace at which we extend SimScale’s offering.”