Oqton, the US- and Belgium-based software company specialising in AI-based manufacturing, today announces it has raised over $40M (nearly €33.1M) in a Series A financing round, led by Fortino Capital, a B2B software investor, by PMV, the regional Flemish investment fund, and by Sandvik, a global engineering group.
The founding team (Samir Hanna and Ben Schrauwen) and several angel investors, including Carl Bass (former CEO Autodesk), Dries Buytaert (Drupal and Acquia), and Peter Mercelis (Layerwise) also participated in the round.
The financing will be used to further develop its platform while expanding its commercial partnerships in multiple domains and verticals (Additive manufacturing, Robotic welding, CNC machining).
What does Oqton do?
Oqton provides a secure end-to-end cloud-based manufacturing platform, which links data across the entire manufacturing ecosystem spanning across designing to logistics. The cloud platform lets manufacturers operate agile factories and manage complex product mixes with a simplified supply chain and lower inventory.