Stockholm-based Adaptive Simulations, the company behind Ingrid Cloud, which provides wind flow simulations for the automotive and aerospace industries, has secured €2.4 million in an investment round led by Fairpoint Capital and Industrifonden. The investment will enable the company to strengthen its team in 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,” said Sebastian Desand, CEO and co-founder, Adaptive Simulations. “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 revolutionize 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.”
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.
Adaptive Simulations is a prime example of how leading Swedish research is commercialized and packaged in an easy-to-use solution with significant potential to optimize and automate the industry.
”Adaptive Simulations’ scalable cloud service Ingrid Cloud is a prime example of how leading Swedish research is commercialized and packaged in an easy-to-use solution with significant potential to optimize and automate the industry,” said Mårten Skogö, Chief Technologist at Industrifonden. “So far the company has proven that there is scalability within the architecture segment, which we believe is only the beginning of a very exciting journey.”
“When it comes to user-friendliness, not much has happened within flow simulations in the past decades. Adaptive Simulations’ solution is, from that perspective, a total game changer and the start of a new era,” said Filip Petersson, Investment Director at Fairpoint Capital.
Adaptive Simulations is a spin-out from research at the KTH Royal Institute of Technology in Stockholm. It was founded in 2015 by Rodrigo Vilela de Abreu, Johan Hoffman, Niclas Jansson and Sebastian Desand and currently employs 12 people at its office in Stockholm.