Silicon Canals
TRENDING
  • Mobility
  • AI
  • FinTech
  • Software & SaaS
No Result
View All Result
  • Home
  • News
    • Ukraine
    • Startups
    • Scaleups
    • Coin Canals
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
    • COVID-19
  • Features
    • How-to
    • Knowledge & Insights
    • Guest Contributions
  • Partners
    • Amsterdam
    • Rise by Techleap.nl
    • Fintech Files by AWS
    • Scaling-up in Europe
    • Blue Tulip Awards
    • Partner with us
    • Promoted content
  • Events
    • Technology Events in Europe
    • Submit your event
  • Jobs
  • About us
    • Partner with us
    • About
    • Team
    • Newsletter
  • Contact
  • Home
  • News
    • Ukraine
    • Startups
    • Scaleups
    • Coin Canals
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
    • COVID-19
  • Features
    • How-to
    • Knowledge & Insights
    • Guest Contributions
  • Partners
    • Amsterdam
    • Rise by Techleap.nl
    • Fintech Files by AWS
    • Scaling-up in Europe
    • Blue Tulip Awards
    • Partner with us
    • Promoted content
  • Events
    • Technology Events in Europe
    • Submit your event
  • Jobs
  • About us
    • Partner with us
    • About
    • Team
    • Newsletter
  • Contact
No Result
View All Result
Silicon Canals
No Result
View All Result

London-based No-code AI platform Monolith AI secures £8.5M to help engineers accelerate product development workflows

Editorial team by Editorial team
August 23, 2021
in (Crowd)funding, AI and chatbots, News, Software & SaaS, Startups
Monolith AI

Image credits: Monolith AI

79
SHARES
LinkedInTwitterWhatsAppFacebook

Monolith AI,  a UK-based engineering software startup, secured £8.5M (approx €9.9M) in Series A funding, taking its total funding raised to £10.6M.

The startup  builds new software that utilises the latest machine learning technologies to help engineers significantly improve the product development process. 

- Partner content -
digital skills dutch workforce
Salesforce’s report on Dutch workforce’s digital skills
Has the Dutch workforce mastered all digital skills? Find out
Has the Dutch workforce mastered all digital skills? Find out Show Less
Read more

The round was led by New York-based global private equity and VC firm Insight Partners, with participation from existing investors Pentech and Touchstone. Other investors include  Alejandro Agag, the founder of Formula E and Extreme E, Apex Black, and the Stanford Angels of the UK.

Fund utilisation

The capital will allow Monolith AI to grow their international client base and continue to develop their 3D machine learning technology that accelerates product development workflows by virtually predicting product performance. 

Dr. Richard Ahlfeld, CEO and founder of Monolith AI, comments: “Deriving insight from data for decision-making is a complex but necessary challenge for engineering organisations. Engineers understand the data, they are embedded in the business and have the intuitions necessary to know why to process and model data. Democratising Al, by empowering engineers to be self-sufficient in building and deploying Al solutions, helps engineering organisations drive digital transformation more efficiently than other currently available solutions.”

Insight Partners

New York-based Insight Partners is a private equity firm that invests in growth-stage technology and software companies. The VC has invested in more than 400 companies worldwide and has raised more than $30B in capital commitments through a series of funds. 

The company is on a mission to find, fund and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success.

Josh Fredberg, Managing Director at Insight Partners, will join the board. He says, “Whether we talk about aircraft, automotive, electronics or any engineered product, engineers make high impact decisions that drive revenue, cost, safety, and sustainability. Richard and the team at Monolith have created an incredible offering that allows engineers to learn from data from across the entire product development phase and make better decisions earlier in the process. We’re delighted to have the opportunity to work closely with the company as it continues to grow.”

Aims to democratise machine learning

Monolith was founded in 2016 by Dr. Richard Alhfeld after years of research at universities like Stanford University and Imperial College London and project collaborations with NASA and Rolls-Royce.

The company is on a mission to democratise machine learning for product development by building intuitive coding-free software, enabling engineers to understand, predict and optimise products efficiently using AI algorithms. 

Currently, the company works with clients such as BMW, Honda, BAE Systems, and Siemens.

How does it work?

Monolith harnesses data from across the entire product engineering process, together with its advanced data science and AI models, to help engineers better understand what would happen if they make changes to design.

With Monolith’s solution, companies can optimise their R&D processes, increase agility, and reduce internal costs, delivering better products to market.

Partnerships

A few days back, JOTA, a British sports car racing team, partnered with Monolith AI to accelerate the design and engineering processes.

Monolith’s AI-powered technology will be used to optimise and validate track test-and-simulation data, empowering engineering teams to make better design decisions. 

The technology will be an integral part of JOTA’s design-decision and track-testing capabilities, bringing new insight to an already distinguished engineering team, per the partners. 

JOTA will use AI in every area of engineering – car setup, vehicle dynamics, aerodynamics, and tires. 

Tomoki Takahashi, technical director at JOTA, says,“Monolith has already radically changed how we operate within the engineering team here at JOTA. Their technology empowers our engineers to make faster, better design decisions and streamlines how our car and simulation data are validated.”

 - Partner content -
How cybersecurity scaleup Intigriti conquered the world?
How cybersecurity scaleup Intigriti conquered the world?
Catch our interview with Paul Down, Head of Sales at Intigriti.
Catch our interview with Paul Down, Head of Sales at Intigriti. Show Less
Read more
Tags: AIfundingnewsSaaSstartup
Share6Tweet20SendShare32

Featured events | Submit your event

Current Month

june

No Events

Partner content | Work with us

The growing ‘influence’ of creator commerce: Steven Lammertink on how The Cirqle prepares brands & creators to ride this growth

From MVP to diverse workplace: CEO Johannes Koeppel explains how WeTravel is disrupting travel industry

Here’s how this Hungarian startup, mentored by Design Terminal, uses satellites and 3D printers to make tourism sustainable

Amsterdam Delta is the top startup ecosystem in the European Union while Rotterdam is hotbed for future-proof economy: Startup Genome

Dealing with inflation worries? Dyme co-founder Joran Iedema explains how his app helps Europeans worry less about money

Silicon Canals | Jobs


Breaking news from Amsterdam | Partner

Amsterdam’s TomTom partners with the Dutch Govt to improve road safety; here’s how

Amsterdam’s VC Curiosity backs Espoo-based proptech startup Freesi in €1.7M round

Amsterdam’s MyWheels, Eidenhoven-based Amber come together to boost shared mobility

Amsterdam-based travel app Polarsteps reaches 4M users, reveals interesting travel trends: Know more

Advertisement

  • About Silicon Canals
  • Partner with Silicon Canals
  • Contact us
  • Newsletter
  • Disclaimer
  • Privacy Policy
  • Cookie Policy (UK)
  • Cookie Policy (EU)
  • Terms & Conditions Silicon Canals

Silicon Canals 2014-2022 | Website: Bright Idiots

No Result
View All Result
  • Home
  • News
    • Ukraine
    • Startups
    • Scaleups
    • Coin Canals
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
    • COVID-19
  • Features
    • How-to
    • Knowledge & Insights
    • Guest Contributions
  • Partners
    • Amsterdam
    • Rise by Techleap.nl
    • Fintech Files by AWS
    • Scaling-up in Europe
    • Blue Tulip Awards
    • Partner with us
    • Promoted content
  • Events
    • Technology Events in Europe
    • Submit your event
  • Jobs
  • About us
    • Partner with us
    • About
    • Team
    • Newsletter
  • Contact

Silicon Canals 2014-2022 | Website: Bright Idiots

Stay updated with the Silicon Canals daily and weekly newsletters.
We promise we won't spam you. You can choose to unsubscribe anytime.
Stay updated with the Silicon Canals daily and weekly newsletters.
We promise we won't spam you. You can choose to unsubscribe anytime.
Silicon Canals
Manage your privacy

To provide the best experiences, we and our partners use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us and our partners to process personal data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.

Click below to consent to the above or make granular choices. Your choices will be applied to this site only. You can change your settings at any time, including withdrawing your consent, by using the toggles on the Cookie Policy, or by clicking on the manage consent button at the bottom of the screen.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Statistics

Marketing

Features
Always active

Always active
Manage options Manage services Manage vendors Read more about these purposes
Manage options
{title} {title} {title}
X
X