Gradient Ventures, Google's AI-focused Venture Fund, to Lead Dyndrite Series A Financing
Veteran investors from the CAD industry join investors with a focus on computing for $10+ million Series A round
CHICAGO, April 2, 2019 /PRNewswire/ -- Today at AMUG 2019, privately held Dyndrite Corporation announced that Gradient Ventures, Google's AI-focused investment fund and an early Dyndrite investor, will lead the company's $10+ million Series A financing round. Cota Capital joins existing investors, Amplify Partners, The House Fund, and private investor and former President and CEO of Autodesk, Carl Bass.
"With its revolutionary geometry engine and Additive Manufacturing Toolkit, Dyndrite is poised to transform additive manufacturing," said Bass. "It's exciting to be a part of this disruptive step forward."
Dyndrite's recently announced Accelerated Geometry Kernel is the world's first fully GPU-native geometry engine. The Dyndrite Additive Toolkit, the first application built on the new kernel, enables a streamlined CAD-to-Print workflow that unlocks the power of GPUs to introduce new levels of productivity and efficiency in the additive manufacturing industry.
"We are at a unique point in time where innovative manufacturing hardware has outpaced its software counterparts," said Anna Patterson, VP of Engineering for Google and Managing Partner at Gradient Ventures. "Dyndrite is a new platform that takes into account modern computer architecture, modern design needs, and modern manufacturing capabilities."
Dyndrite's focus within the $50 Billion design and manufacturing industry is to help boost productivity for additive manufacturing, with specific use cases in aerospace, medical, energy, and automotive applications. In these sectors, there is particular urgency for addressing the growing gap between 3D printing hardware and the software that supports it.
The company comprises a veteran team of computer scientists, mathematicians, and PhD-level practitioners from the computing, CAD, and additive manufacturing industries. The Series A round will enable this team to release the first beta version of the company's product line, which has been under development for over three and a half years. Additionally, this round will enable Dyndrite to hire crucial talent across the company, including team members in engineering, marketing, sales, and support functions -- all working together to help lighthouse and beta customers achieve their goals. The company expects to grow from 15 to approximately 30 employees by the end of 2019.
"We are entering the next phase of our company and are excited to play our role in fostering the evolution of the design and manufacturing industries," said Harshil Goel, Dyndrite's co-founder and CEO. "We're proud to be a part of the aspirations of our early lighthouse customers. We look to tell our story in a broader context, inspiring and empowering those who are transforming how people design and make things to propel the human race forward."
Dyndrite Corporation (Pronounced "Den-drite"), provides the first of its kind "Computational Geometry Engine" and Additive Toolkit (AT) which combine to bring modern performance, capabilities, and productivity to the design, engineering, and manufacturing marketplaces. The full power of Dyndrite is accessible via an integrated Python Application Programming Interface (API) providing unprecedented control and customization to developers, engineers, technicians, and device OEMs.
About Gradient Ventures:
Gradient Ventures is Google's AI-focused venture fund - investing in and connecting early stage startups with Google's resources, innovation, and technical leadership in artificial intelligence. The fund focuses on helping founders navigate the challenges in developing AI-based products, allowing companies to take advantage of the latest techniques so that great ideas can come to life. Gradient was founded in 2017 and is based in Palo Alto, California. For more information, visit Gradient.com
Shawn Hopwood, CMO Dyndrite
All trademarks, service marks and company names used in this announcement are the property of their respective owners.
Dyndrite is a trademark of Dyndrite Corporation. All other trademarks and registered trademarks previously cited are hereby recognized and acknowledged.