CloudNC, a London-based developer of artificial intelligence-powered precision manufacturing software, has closed a $20 million Series B funding round to fuel its international expansion and product development roadmap.
The round was led by Nimble Ventures, with participation from Calculus Venture Capital, Entrepreneur First, LM Ventures, and the venture capital arm of Lockheed Martin. The investment brings CloudNC’s total funding to $65 million, positioning the company to accelerate its market presence across new territories and develop next-generation AI tools for the machining industry.
Scaling Production and Market Reach
CloudNC’s core offering, CAM Assist, uses machine learning to streamline computer-aided manufacturing workflows for machine shops and precision engineering firms. The platform addresses a persistent challenge in the sector: the need to quote jobs faster, program machines more efficiently, and maximise output without expanding headcount or capital expenditure.
According to Theo Saville, CEO and Co-founder of CloudNC, the timing reflects genuine market pressures facing manufacturers globally. “Machine shops everywhere are under pressure to quote and program faster, and deliver more with the people and machines they already have,” Saville said. “This investment allows us to stay focused on what matters most to our customers: making CAM Assist even more effective at accelerating daily production, expanding into more markets, and developing new AI products that address critical bottlenecks across machining workflows.”
Product Innovation and Compliance
The capital injection will support several strategic initiatives. CloudNC plans to expand its commercial operations and customer support infrastructure, establish presence in additional markets beyond its current footprint, and develop new AI-driven products including Quote Agent—a tool designed to automate the quotation process for machining jobs.
The company is also pursuing FedRAMP certification for its CAM Assist platform, a significant undertaking that would position the software for adoption by United States federal agencies and defence contractors operating under strict compliance requirements. The involvement of Lockheed Martin’s venture fund signals confidence in CloudNC’s ability to serve the aerospace and defence sectors, where certification and reliability are paramount.
European Momentum in Manufacturing Tech
CloudNC’s expansion reflects a broader trend across the European startup ecosystem, where artificial intelligence applications in manufacturing and industrial sectors are attracting substantial venture capital attention. The combination of deep technical expertise, a substantial addressable market, and the involvement of strategic corporate investors demonstrates investor confidence in the sector’s potential.
The presence of Lockheed Martin as a financial backer also underscores how European manufacturing software companies are increasingly attracting interest from major international defence and aerospace primes, positioning British and European firms at the intersection of commercial manufacturing efficiency and strategic industrial capability.