The Stockholm-based startup Adaptive Simulations announced today that it has received a €1.5 million investment from Creathor Venture, Karma Ventures, and the holding company of the university KTH Royal Institute of Technology.
Founded in January 2015, Adaptive Simulations is a deep tech startup offering fully automated simulations based on leading edge research. The young company offers its cloud-based SaaS solution globally and aims to democratize the virtual simulations market.
There are currently around 500K users of non-automated flow simulations while the potential global market for automated simulations is estimated to more than 10 million users. The product innovation behind Adaptive Simulations 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 research is finally mature enough for commercialisation. The algorithms replace the cumbersome and complex work done manually by simulations experts today.
Sebastian Desand, the CEO of Adaptive Simulations explains: “Fully automated flow simulations, has 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.”
Altogether the solution offered by Adaptive Simulations provides the following:
- shortens product design cycle and time to market
- increase accuracy and reliability of flow simulations
- reduce cost of flow simulations with around 70%
- makes simulations easy and available to anyone
Dr. Gert Köhler, Managing Partner at Creathor Venture, comments: “We are convinced of 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 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 create value in European deep tech.”