Adaptive Simulations receives 1.5 MEUR investment from Creathor Venture, Karma Ventures and KTH Holding
Adaptive Simulations announced today that it has received a 1.5 million euro investment from Creathor Venture and Karma Ventures, two leading European venture capital firms in the high-tech space. The venture capital firms were joined by the holding company of highly ranked tech-university KTH Royal Institute of Technology.
Adaptive Simulations’ goal is to democratize the virtual simulations market by offering cloud based fully automated flow simulations as a service, which has a potential to increase the current market volume twentyfold. There are currently around 500 thousand users of non-automated flow simulations while the potential global market for automated simulations is estimated to more than 10 million users.
The product innovation is enabled by adaptive algorithms, based on years of research in numerical analysis, computer science and CFD (Computational Fluid Dynamics) at KTH Royal Institute of Technology. Now the ground-breaking research is finally mature for commercialisation. The algorithms replace the cumbersome and complex work done manually by simulations experts today.
— Fully automated flow simulations, has been somewhat of a holy grail for the simulations industry. The implications of automated flow simulations can be compared to the automation of weavers in the 19th century. The leap from manual weaving to automated weaving transformed the textile industry completely. Now, we want to do the same with the simulations industry. Says the CEO of Adaptive Simulations, Sebastian Desand.
Altogether the innovative solution offered by Adaptive Simulations:
- shortens product design cycle and time to market
- increase accuracy and reliability of flow simulations
- reduce cost of flow simulations with around 70%
- makes simulations easy and available to anyone
— The founders of Adaptive Simulations are well regarded researchers and experts in the field of digital simulations and they are about to introduce a truly unique product to the market. We see that by commercialising the solution the company has a potential to become a rapidly expanding challenger in the simulation software market which was one of the main attractions that led to our positive investment decision. It is exactly the type of technology innovation that we focus our investments on. Said Kristjan Laanemaa, a partner at Karma Ventures.
Dr. Gert Köhler, Managing Partner at Creathor Venture, comments:
— We are convinced of Adaptive Simulations’ innovative solution and see great potential in automating flow simulations across multiple industry verticals. We see a market need for effectiveness in design processes while maintaining high accuracy and performance. The team behind Adaptive Simulations is well positioned to serve this need and to become leaders in the simulation software market. With this investment, we further strengthen our commitment to create value in European deep tech.
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