Ingrid Cloud (formerly Adaptive Simulations) announced today that it has received a €1.5 million investment from Creathor Venture and Karma Ventures, two leading European venture capital firms in the high-tech industries. The venture capital firms were joined by the holding company of highly ranked tech university, KTH Royal Institute of Technology.
Ingrid Cloud's (formerly Adaptive Simulations) goal is to democratise the virtual simulations market by offering cloud-based and fully-automated flow simulation software as a service (SaaS), which has the potential to increase the current market volume twentyfold. There are currently around 500,000 users of non-automated flow simulations, while the potential global market for automated simulations is estimated to be 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 groundbreaking research is finally mature for commercialisation. The algorithms replace the cumbersome and complex work done manually by simulation experts today.
“Fully automated flow simulations have 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.”
- Sebastian Desand, CEO of Ingrid Cloud (formerly Adaptive Simulations)
Shortens product design cycles and time to market;
Increase accuracy and reliability of flow simulations;
Reduces cost of flow simulations by approximately 70%;
Makes simulations easy and available to anyone.
The founders of Ingrid Cloud (formerly 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 and innovation that we focus our investments on.
- Kristjan Laanemaa, a partner at Karma Ventures
We are convinced of Ingrid Cloud's (formerly 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 Ingrid Cloud (formerly 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 creating value in European deep tech.
- Dr. Gert Köhler, Managing Partner at Creathor Venture
Karma Ventures is an early-stage venture capital firm, specialised in seed and A round investments in Europe’s most promising tech startups. Karma Ventures backs companies with strong ideas delivered with unique technology, customer traction and global ambition. Karma Ventures’ key investors are Ambient Sound Investments and the Baltic Innovation Fund, an initiative created by cooperation between the Republic of Estonia, the Republic of Latvia, the Republic of Lithuania and the European Investment Fund (EIF). For more information visit http://www.karma.vc, or contact Kristjan Laanemaa.
As a leading pan-European Venture Capital firm, Creathor Venture invests in technology-oriented companies and entrepreneurs. Creathor Venture focuses on mobile, digital media, cloud technology, artificial intelligence, internet of things, sharing economy and fintech. In the life science sector, Creathor Venture invests in selected areas such as precision medicine, enabling platforms, medtech and digital health. Regional focus is on Germany, Switzerland, Austria, France and the Nordics. The management team of Creathor Venture consists of the CEO Dr. Gert Köhler, Karlheinz Schmelig and Cédric Köhler. The team has been investing successfully in the early-stage venture capital business for 30 years. During that time, the team has successfully built more than 200 technology companies, conducted more than 20 international IPOs and has achieved exceptional returns for fund investors and the financed entrepreneurs in the past, all in the position as lead investor. The current portfolio of more than 30 companies is actively supported in development, growth and internationalisation by a team of 19 staff. Creathor Venture manages funds of more than €220 million and holds offices in Bad Homburg (Frankfurt), Tutzing (Munich), Zurich and Stockholm. As the largest investor in Creathors' funds, the management underlines its entrepreneurial orientation. For further information contact Daniel Karsberg, Investment Manager in Stockholm.