Industrifonden and Fairpoint Capital invest €2.4 million in Ingrid Cloud (formerly Adaptive Simulations). The investment enables the company to strengthen its existing team and expand to additional market segments.
Ingrid Cloud (formerly Adaptive Simulations), secures €2.4 million in an investment round led by Fairpoint Capital and Industrifonden. The investment enables the company to strengthen their team both within development, sales and marketing, as well as launch the product in new industry segments.
”Traditional software for flow simulations, commonly used within the automotive and aerospace industry is complex, expensive and slow. It requires weeks of person-hours as well as significant expertise. We make it possible for anyone to run simulations that are more powerful than the largest car manufacturers are currently running. With this investment, we will be able to revolutionise additional industries and in the end, enable better and more sustainable products. I am truly happy that Industrifonden and Fairpoint Capital want to be a part of our journey”, says Sebastian Desand, CEO and co-founder, Ingrid Cloud (formerly Adaptive Simulations).
The company currently has around 25 paying customers, primarily within architecture and building construction, which has been their first market to entry. They are helping leading companies such as White, Sweco, Vasakronan and Thyréns simulate wind in urban environments. The global market for software and services within flow simulations is valued at around €9.5 billion.
"Ingrid Cloud (formerly Adaptive Simulations) is a prime example of how leading Swedish research is commercialised and packaged in an easy-to-use solution with significant potential to optimise and automate the industry."
So far the company has proven that there is scalability within the architectural segment, which we believe is only the beginning of a very exciting journey," says Mårten Skogö, Chief Technologist, Industrifonden.
"When it comes to user-friendliness, not much has happened within flow simulations in the past decades. Ingrid Cloud's solution is, from that perspective, a total game changer and the start of a new era", says Filip Petersson, Investment Director, Fairpoint Capital.
With the investment, Mårten Skogö and Filip Petersson will join the company’s board.
Ingrid Cloud (formerly Adaptive Simulations), a spin-out from research at the KTH Royal Institute of Technology in Stockholm, was founded in 2015 by Rodrigo Vilela de Abreu, Johan Hoffman, Niclas Jansson and Sebastian Desand . The team is currently 12 people strong, and based in Stockholm.