Akselos closes CHF2.2 million financing round

Akselos has completed its second ‘closed’ venture financing round by inviting a highly selective number of financial and strategic partners to underwrite a capital increase. A total of CHF 2.2. million (US$ 2.2 million), inclusive of a credit line, the sale of a minority equity tranche and a non-dilutive grant provided by the Swiss Government, has been raised in an effort to continue investing for growth.

Established in 2011, and licensing technology from MIT in Boston (Massachusetts Institute of Technology), Lausanne-headquartered Akselos is commercializing novel mechanical engineering simulation technology with a speed-up of 1'000x-10'000x compared to standard Computer Aided Engineering software currently available in the market. The patented technology is providing extremely fast simulation software for engineering design and virtual prototyping of complex products. It is supporting large blue chip customers across the oil & gas industry, mining and industrial sectors (asset owners, manufacturers) to operate safer and more reliable equipment. Akselos 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.

The firm enjoys an international footprint with offices in Boston, USA and Ho Chi Minh City, Vietnam, alongside its Swiss head office, and continues to closely collaborate with leading academia such as EPFL Lausanne (Swiss Federal Institute of Technology).

Forticap’s Partner, Faris Sabeti, commented: “We are honoured to have been invited to participate in this private investment and enjoy the opportunity to back such a strong, dedicated and focused team of professionals. We are excited to see further progress in the ongoing commercialization process and enhancement of Akselos’ cutting edge technology. I have known for many years the CEO Thomas Leurent, a highly respected entrepreneur and angel investor in the Swiss hi-tech ecosystem, and look forward to collaborating closely with his team going forward to fulfil the company’s vision.

We are delighted to keep growing Forticap’s presence in the Swiss and global hi-tech sector by partnering with yet another high quality and innovative business such as Akselos. We continue experiencing strong interest and investor demand, private and institutional alike, for high growth technology venture investments and plan to secure further opportunities in the coming months.”

(Press release)