MultiMechanics Raises $1.9M
OMAHA, NE, MultiMechanics today announced it raised $1.9 million in new financing.
MultiMechanics, the leading developer of virtual testing software designed to help companies reduce physical prototyping and testing, today announced it raised $1.9 million in new financing, with investments from Solvay Ventures, Anzu Partners, and Invest Nebraska. The new investment will be used to grow the company's engineering team, further its product development pipeline, and expand its position in the commercial marketplace.
"This investment round will not only help us maintain our projected growth path," said Flavio Souza, co-founder and Chief Technology Officer, "but also ensure we attract the best talent both here in Omaha and from outside of the region, so we can keep pushing the boundaries of our technology."
"Our customers greatly benefit from the software systems we develop, and I am delighted that we have broad support from these new investors to help us continue to grow our team, our product offerings, and our business," said Leandro Castro, co-founder and Chief Executive Officer of MultiMechanics.
Based in Omaha, Nebraska, MultiMechanics enables the modeling and failure prediction of complex materials at an unprecedented level of accuracy and speed. The breakthrough TRUE Multiscale technology, developed over 6 years, accurately predicts and visualizes stresses and crack propagation at multiple scales, simultaneously. The software enables innovation acceleration in a large range of industries: composites, polymers, 3D printing, automotive, aerospace, energy and even applications in biotech and pharmaceuticals.
The investment comes following a successful partnership between MultiMechanics and Solvay to model complex composite structures used in the automotive and aerospace industries.
"Our Composite Materials Global Business Unit carefully reviewed all modeling solutions and, by far, MultiMechanics provided the best results," said Nicolas CudrÃ© Mauroux, Solvay's Research & Innovation Group General Manager (CTO). "We are confident this software can accelerate innovation in complex materials and the penetration of composites in the automotive and aerospace industries. The accuracy and speed afforded by MultiMechanics, and its efficient integration with commonly used commercial finite element software packages, is changing the way we develop new materials and interact with our customers."
To learn more about MultiMechanics, please visit http://www.multimechanics.com/.
About Solvay Ventures
Solvay Ventures is the Venture Capital fund of Solvay and invests in breakthrough technologies in advanced materials and formulations. Operating since 2005, Solvay ventures manage a $100m global evergreen fund with a focus on better use of resources, energy transition, health & wellbeing, and digital age; all investment feature a strong sustainability component. In addition to providing capital to start-up companies, Solvay Ventures leverages Solvay capabilities to generate business synergies between start-ups and Solvay's businesses and innovation platforms. For more information, please visit http://www.solvay.com/en/.
About Anzu Partners
Anzu Partners is a venture capital and private equity firm that invests in breakthrough industrial technologies. We team with entrepreneurs to develop and commercialize technological innovations by providing capital and deep expertise in business development, market positioning, global connectivity, and operations. For more information, please visit https://anzupartners.com.
About Invest Nebraska
Invest Nebraska is a public-private partnership funded by the Nebraska Department of Economic Development to grow the state's economy by supporting high-growth, early-stage companies in Nebraska. Invest Nebraska works directly with entrepreneurs, researchers and businesses to help commercialize their technologies, launch and grow new businesses, and access needed capital. For more information, please visit http://investnebraska.com.
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