Earlybird et al. invest in SimScale

A consortium of business angels also invested in the funding round. SimScale has earmarked the funding for improving and developing the simulation feature of its platform.

Earlybird's portfolio holds 34 companies in the consumer internet and enterprise services space.

Bayern Kapital was set up in 1995 as part of the Bavarian state government's Bavarian Future Initiative. Its Seedfonds Bayern fund focuses on funding technology start-up companies in Bavaria. The venture capital house currently manages funds totalling €200m.

Previous funding
HTGF, Bayern Kapital and a group of business angels first invested in SimScale in February 2013. HTGF typically invests €500,000 at the seed stage and up to €1.5m in subsequent rounds.

Company
SimScale span out of the Technical University of Munich in 2011 and was officially launched in the second half of 2013. The web-based platform aims to simplify access to computer-aided engineering for engineering businesses. It integrates a range of simulation tools from fluid mechanics, structural mechanics and thermodynamics in one user interface that can be tested free of charge on the company's website.

The company claims to have several hundred thousand customers, including plant manufacturers, facilities engineers and pump and valve designers.

People
Hendrik Brandis is partner at Earlybird. Guillem Sague is investment manager at High-Tech Gründerfonds. David Heiny is co-founder and managing director of SimScale.

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• High-Tech Gründerfonds