A startup company called Dyndrite is set to raise more than $10 million to bring its computer-aided design software to market.
The privately held Dyndrite says Gradient Ventures, Google’s AI-focused investment fund and an early Dyndrite investor, will lead the company’s $10 million+ Series A financing round.
Cota Capital joins existing investors, Amplify Ventures, The House Fund, and private investor and former president and CEO of Autodesk, Carl Bass.
Bass says: “With its revolutionary geometry engine and Additive Manufacturing Toolkit, Dyndrite is poised to transform additive manufacturing. It’s exciting to be a part of this disruptive step forward.”
Dyndrite’s recently announced Accelerated Geometry Kernel is the world’s first fully GPU-native geometry engine.
The Dyndrite Additive Toolkit, the first application built on the new kernel, enables a streamlined CAD-to-Print workflow that unlocks the power of GPUs to introduce new levels of productivity and efficiency in the additive manufacturing industry.
Anna Patterson, VP of engineering for Google and managing partner at Gradient Ventures, says: “We are at a unique point in time where innovative manufacturing hardware has outpaced its software counterparts.
“Dyndrite is a new platform that takes into account modern computer architecture, modern design needs, and modern manufacturing capabilities.”
Dyndrite’s focus within the $50 billion design and manufacturing industry is to help boost productivity for additive manufacturing, with specific use cases in aerospace, medical, energy, and automotive applications.
In these sectors, there is a particular urgency for addressing the growing gap between 3D printing hardware and the software that supports it.
The company comprises a veteran team of computer scientists, mathematicians, and PhD-level practitioners from the computing, CAD, and additive manufacturing industries.
The Series A round will enable this team to release the first beta version of the company’s product line, which has been under development for over three and a half years.
Additionally, this round will enable Dyndrite to hire crucial talent across the company, including team members in engineering, marketing, sales, and support functions — all working together to help lighthouse and beta customers achieve their goals.
The company expects to grow from 15 to approximately 30 employees by the end of 2019.
Harshil Goel, Dyndrite’s co-founder and CEO, says: “We are entering the next phase of our company and are excited to play our role in fostering the evolution of the design and manufacturing industries.
“We’re proud to be a part of the aspirations of our early lighthouse customers.
“We look to tell our story in a broader context, inspiring and empowering those who are transforming how people design and make things to propel the human race forward.”