Ciespace Corporation, a Pittsburgh, PA-based engineering software company that develops and markets advanced 3D digital modeling and analysis solutions for the aerospace, automotive, industrial, and government markets, has secured $4m in a Series A funding from a consortium of investors.
The round was led by ARCH Venture Partners (ARCH) and the University of Tokyo-Edge Capital (UTEC).
Ciespace will use this capital to advance and bring to the market its innovative 3D digital modeling platform, which allows customers to generate high quality virtual prototypes automatically and has broad application beyond traditional automotive, aerospace and industrial computer-aided design, including computer animation, medical imaging and metrology.
The patented BubbleMesh(TM) technology, developed by Dr. Kenji Shimada, Founder and former CEO of Ciespace and Professor of Mechanical Engineering at Carnegie Mellon University, is currently used by over 50 companies worldwide, including major corporations such as Honda R&D, IBM Corporation, NASA, and Toray Industries, Inc.
The company also named Kevin Kerns as Chief Executive Officer.
Prior to joining Ciespace, Mr. Kerns worked as a consultant and Entrepreneur-in-Residence to ARCH Venture Partners.
From 1996 to 2004, he served as CEO of Apropos Technology, Inc., a provider of multimedia communications software for call centers. Prior to Apropos, Mr. Kerns held the position of president and CEO of CASE Technology, Inc., a developer of electronic design automation solutions.
FinSMEs
11/08/2010