Flexcompute Raises $22M to Accelerate Industrial R&D With Advanced Engineering Computing
BOSTON, Nov. 29, 2021 (GLOBE NEWSWIRE) — Flexcompute has raised $22M in Series B funding led by Coatue Management with participation from GGV Capital, 3W Investment, WI Harper, River Delta, and additional investors. Proceeds will accelerate its efforts to build a world-class team and execute its vision of engineering computing.
Flexcompute develops computing technologies to accelerate the design process of industrial and consumer products. Its technology solves massive differential equations to simulate physics in the real world. Engineers use such simulations to evaluate product performance before building the physical prototypes. Their key innovations allow customers to perform large-scale, physics-accurate simulation at an unprecedented speed. Its product helps companies to substantially shorten the design cycles of electric airplanes, electric cars, high-efficiency wind turbines, advanced sensors, and quantum computing chips. Flexcompute was founded in 2016. Its mission is to accelerate innovation with advanced computing.
About Coatue Coatue is one of the largest technology investment platforms in the world with ~$60 billion in assets under management. Our dedicated team of engineers and data scientists work closely with investment professionals to add value to founders and executive teams in our portfolio. With venture, growth and public funds, we back entrepreneurs from around the globe and at every stage of growth. Some of our private investments have included Airtable, Ant Financial, Anaplan, ByteDance, Chime, Databricks, DoorDash, Instacart, Meituan, Snap, Snowflake and Spotify.
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