CloudNC Raises $20M Series B Extension for AI Machining Software
Fundraise Insider tracks newly funded startups each week and delivers verified sales leads of C-suite contacts straight to your inbox, so you reach the right people while the funding is still fresh. See pricing.
CloudNC, a manufacturing software company based in London, England, has announced a $20 million Series B extension that lifts its lifetime funding to $128 million. The round was reported on September 8, 2026, and it is the company’s first major raise in four years.
Nimble Ventures led the Series B extension. Calculus Venture Capital, Entrepreneurs First, and LM Ventures, the venture arm of Lockheed Martin, also invested.
Theo Saville, the CEO, founded CloudNC in 2015 with Chris Emery, now chief science officer. The company’s CAM Assist product uses AI to automate parts of CNC machining, the process of using computer-controlled machines to cut or shape materials into precise parts for the automotive, defense, and consumer hardware industries. Before a part can be cut, a machinist or CAM programmer has to work out how it should be held, which tools to use, and how to approach it. Conventional CAM software is powerful but still relies on the programmer to specify each of those choices by hand. CAM Assist plugs into systems such as Autodesk Fusion and Mastercam, selects tools, approach directions, and cutting feeds and speeds, then drafts the code that tells the machine what to do. The programmer reviews, edits, and approves the result, so the software handles the first-pass thinking and repetitive setup while expert judgment stays with the human.
More than 1,000 machine shops worldwide use CAM Assist, and 80 percent of the customer base is in the United States. Named customers include Lockheed Martin and Major Tool and Machine. With a team of 80, the company’s main goal now is wider adoption. The money will support broader uptake of CAM Assist, stronger go-to-market operations, expansion in existing and new markets, and new products including Quote Agent, which is due to launch next month. Quote Agent helps shops estimate the cost and risk of a new job so they can accept or decline work faster, a need CloudNC ties to reshoring in the US and a shortage of skilled manufacturing workers.
Vendors and integrators selling into machine shops and precision manufacturers can get verified contacts at newly funded companies every week through B2B SaaS Leads.