Idea Fund has provided seed capital for SciArt Software, a spinout of Wisconsin-Madison that has developed a weight reduction tool for engineering structures.
SciArt Software, a US-based design engineering software spinout of University of Wisconsin-Madison, has raised $530,000 in seed funding from venture capital firm Idea Fund.
Founded earlier this year, SciArt Software has developed an analysis and optimisation tool, called Pareto, that helps design engineers reduce the weight of parts and products.
The tools works with existing software through plug-ins and helps create designs within specific constraints, reducing the number of iterations before a product can be shipped. It is particularly aimed at industries under pressure to reduce the weight of parts, such as aerospace and defence, automotive and handheld device makers.
The technology is based on work by Krishnan Suresh, professor of medical engineering. The spinout was established by Wisconsin Alumni Research Foundation, the university’s commercialisation arm.
Jonathon Horne, managing director of Idea Fund, said: “The Idea Fund is excited about the potential of SciArt Software’s innovative technology. Additionally, CEO Karen Caswelch is an exceptional leader, with deep industry knowledge and a world-class background. SciArt Software is poised to revolutionise the generative design business.”
