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Nominal, an Austin-based software startup that provides an artificial intelligence platform for engineering and testing complex physical systems like aircraft and nuclear reactors, has raised $240 million in a Series C funding round. The investment was led by Lightspeed Venture Partners and co-led by Insight Partners. The new financing elevates the four-year-old firm's valuation to $3 billion, tripling its $1 billion valuation set in March. [1][2]
Led by chief executive Cameron McCord, a former U.S. Navy submarine officer, the startup serves 80 commercial and government clients. Defense contractor Anduril is among its key customers. Nominal also secured a $71.2 million Strategic Funding Increase investment from the U.S. Air Force in October, a government initiative that requires matching outside capital. [1]
Artificial intelligence-powered hardware-testing and engineering software startup Nominal Inc. today announced it has raised $240 million in new funding led by Lightspeed Venture Partners and Insight Partners. The investment triples the company’s valuation to $3 billion, up from $1 billion cemented in March after it raised $80 million in a Series B-2 funding round. Additional major investors…
via SiliconANGLE
Nominal, a startup that offers an AI platform for hardware engineering and claims Anduril as a major customer, has raised another big round of financing that triples its valuation.
via TechCrunch