Archives for November 19, 2018

Autonomous vehicles and software developer Ridecell raises $60 million in second funding round

November 19, 2018 by Sam Francis

Ridecell, a developer of autonomous a ride-hailing platform, which includes software and driverless vehicles, has expanded its Series B equity investment round.

The new investments have more than doubled the capital raised in the initial Series B round – $28 million announced in May – to more than $60 million.

The complete Series B round is now being led by Activate Capital, and Raj Atluru, managing director and co-founder of the firm, will join the company’s board as the first outside director. [Read more…] about Autonomous vehicles and software developer Ridecell raises $60 million in second funding round

Smart products and factories transforming engineering services industry

November 19, 2018 by Sam Francis

The rapid growth of smart products and smart factories is transforming the engineering services industry as never before, and providers are responding by digitalizing virtually every facet of their services portfolio, according to a new study from Information Services Group, a global technology research and advisory firm.

The latest ISG Provider Lens Quadrant report, the first ever by ISG to evaluate engineering services providers serving the US market, notes providers are moving to address the digital elements of core engineering functions – from concept and physical product development, to optimization of industrial design and operations, to software product and applications software development.

Esteban Herrera, partner and global head of ISG Research, says: “Transforming from a traditional to an agile business environment is key. [Read more…] about Smart products and factories transforming engineering services industry

Volvo Financial Services launches iLabX innovation lab for technology entrepreneurs

November 19, 2018 by Anna

Volvo Financial Services (VFS) has launched ‘iLabX’, an accelerator program that will provide entrepreneurial companies from around the world in fintech and other fields with the opportunity to collaborate with VFS to develop and implement new innovative solutions and technologies.

iLabX will be run in collaboration with L Marks, a corporate innovation specialist. The program accepts entries in four categories:

Hyundai Motor partners with drone startup Top Flight

November 19, 2018 by Anna

Hyundai Motor Company has announced a strategic partnership with Top Flight Technologies, Inc., a leading startup in hybrid-electric unmanned aerial vehicle (UAV) technologies, as part of its broader effort to cement leadership in future mobility solutions.

Hyundai will team up with the Boston-based startup to explore ways to accelerate the commercial application and deployment of UAVs across various sectors and markets.

Joint efforts will extend to cultivating new business opportunities around UAVs, leveraging Top Flight’s patented hybrid-electric power system.

Siemens launches additive manufacturing process simulation solution

November 19, 2018 by Anna

Siemens has announced a new additive manufacturing (AM) process simulation solution for predicting distortion during 3D printing.

The product is fully integrated into Siemens’ end-to-end AM solution, which assists manufacturers in designing and printing parts at scale.

Building on Siemens’ comprehensive digital innovation platform and the Simcenter portfolio, the AM Process Simulation solution uses a digital twin to simulate the build process prior to printing, anticipating distortion within the printing process and automatically generating the corrected geometry to compensate for these distortions.