Akselos, a Lausanne, Switzerland-based developer of a new type of engineering simulation technology, received a US$ 2.2m in second vc funding.
The round included a majority investment from Forticap, a credit line, and a non-dilutive grant provided by the Swiss Government.
The company intends to use the funds to continue investing for growth.
Established in 2011 and led by CEO Thomas Leurent, Akselos is commercializing novel mechanical engineering simulation technology (from Massachusetts Institute of Technology in Boston), providing simulation software for engineering design and virtual prototyping of complex products. The company, which provides simulation software, integrated model building services (from CAD to cloud-based simulations) and a decision support system for the prioritization of maintenance, life extension, cost and production optimization, serves large blue chip customers across the oil & gas industry, mining and industrial sectors (asset owners, manufacturers).
The company has an international presence with offices in Boston, USA and Ho Chi Minh City, Vietnam, and continues to collaborate with academia such as EPFL Lausanne (Swiss Federal Institute of Technology).