Inductiva receives 2.25 million euros to support engineers and scientists in forecasting
The Portuguese startup has developed a computational platform for molecular, mechanical, and quantum simulations, among others. The investment was led by Iberis Capital and also involved Shilling and six other private investors.
Portuguese startup Inductiva Research Labs, which has created a computational platform to help scientific laboratories and company engineers simulate, predict, and optimize processes, has closed an investment worth 2.25 million euros, led by Iberis Capital.
Among the investors in this round were the Portuguese venture capital company Shilling, which invests in early-stage companies, and six business angels (Maria João Souto, João Penedones, Terry Huang, Ryan MacDonald, Ralf Herbrich and João Barros).
"This round of funding highlights the commitment of our entire team to address what we believe is a key problem that has been forgotten: the need for a modern and agile infrastructure to carry out large-scale physical simulations in combination with Artificial Intelligence techniques for various scientific and industrial domains," commented Inductiva's CEO.
According to Luís Sarmento, Inductiva has an API (Application Programming Interface) in Python that allows it to carry out large-scale simulations on-premise and in the cloud. It will now be able to "go further in the innovation process", extend its range of functionalities and expand its client base to include start-ups, scientific laboratories and large industrial companies.
Luís Quaresma, a partner at Iberis Capital, believes this company can "revolutionize the simulation scenario and accelerate the digital transformation process of various industries".
"From the start, we were impressed by Inductiva's unique approach, exceptional team, and vision. This investment comes when industries such as pharmaceuticals, the design of new materials, renewable energies - among other global lines of action aimed at mitigating climate change – increasingly use simulation tools," says the private equity and venture capital spokesperson.
Founded in January 2021 and based in Porto, Inductiva was created by Luís Sarmento, Hugo Penedones, and Clara Gonçalves, three University of Porto alumni entrepreneurs with careers in multinationals such as Amazon, Google, Microsoft, DeepMind or the Fraunhofer Institute. The deep tech company they founded is dedicated to large-scale simulation (fluid dynamics, molecular dynamics, structural mechanics, and quantum systems, among others).
