- Generative Engineering has raised $4 million in seed funding.
- The London-based startup aims to simplify the design of physical products
- Check out the 12-slide pitch deck used to raise the fresh funds below.
Generative Engineering, a startup that aims to simplify the design of physical products, has raised $4 million in fresh funds.
The London-based startup, founded in 2021, has developed a platform to reduce the time and resources used on regular iterations in physical engineering.
In essence, building things is complicated, time-consuming, and expensive. The startup’s platform enables engineers to generate thousands of possible design choices and continuously test them, allowing design iteration to happen in parallel.
Become an Insider
and start reading now.
Have an account? .
The company believes its product can help businesses save years lost through design choices that go in the wrong direction.
“Modern physical products like electric vehicles, drones, and energy systems are becoming increasingly complex at a systems level,” Generative Engineering CEO and cofounder Joe Griston told EuroJournal.
“However many of the tools we use to design these products were designed for individual parts based on software architectures from decades ago.
“These tools and the processes which have evolved around them can’t keep up with this complexity or the demand for new solutions, particularly in the context of finding solutions to combat climate change.”
Generative Engineering’s funding round was led by EQT Ventures, alongside Join Capital. Raising cash in a tricky market was “tough, but enjoyable,” according to Griston.
“There is certainly a low tolerance for risk currently. SVB made this noticeably worse,” he added.
“A good understanding of the challenges and opportunities of the physical engineering industry was critical in our process which added to the challenge as it has not traditionally been a hot investment topic.”
The new capital will go towards scaling the company’s team and product. Many of the startup’s founding team worked at now-public British electric vehicle manufacturer Arrival prior to starting Generative Engineering.
You can check out the company’s 12-slide pitch deck below: