- Sector: Systems & Deep Tech; Industrial Tech
- Deal Type: Private Capital; Founder-led Businesses; Strategic Deals
- Engagement type: Fundraise
- Size: $45 million
Arma Partners is pleased to announce that it has acted as financial advisor to CloudNC on its $45m Series B growth capital raise. The round is led by Autodesk, with Lockheed Martin and British Patient Capital participating alongside returning investors Atomico and Episode 1 Ventures.
CloudNC is developing advanced software that enables factories to autonomously manufacture precision parts, solving an industrial process that is currently error prone, time-consuming and expensive. Despite increased automation, the Precision Machining industry’s dependency on expert human programmers makes it less efficient than other industries and heavily exposed to an ageing workforce.
CloudNC’s technology already provides a significant degree of autonomy. A user can upload a 3D model of any part and, with one click, the software autonomously determines the tools needed, how they will be used and drafts the code to tell a CNC machine how to make it. This allows factories to be more efficient while upskilling the workforce. By reducing reliance on machine programmers, the software will level manufacturing costs from region to region, enabling producers to localise supply chains and be closer to customers.
The company will use the additional capital to roll out its SaaS offering to factories around the world, initially through integrations with CAM packages such as Autodesk’s platforms, and to further develop its unique full-stack manufacturing capability in the UK.
The transaction underlines the capabilities of Arma Partners’ Private Capital practice to achieve successful transaction outcomes for fast-growing, industry disrupting companies despite volatile market conditions. It also highlights Arma Partners’ unique expertise in frontier technologies, including autonomous manufacturing and DeepTech more broadly.