Omaha, Nebraska-based MultiMechanics has recently announced receiving a $1.9 million investment from sources including Anzu Partners, Invest Nebraska, and Solvay Ventures. MultiMechanics develops virtual testing software that helps companies reduce the need for physical prototyping and testing.
Anzu Partners is a private equity and venture capital firm that invests in early stage startups involved with breakthrough industrial technologies. It provides both capital and expertise in operations, development, global connectivity, and market positioning. Previous investments include SLIPS Technologies, Niron Magnetics, and Axsun Technologies.
Venture capital firm, Invest Nebraska, offers operational and financial help for investors and entrepreneurs in Nebraska. It holds competitions for regional startups and existing businesses that are open to locating to the area. Invest Nebraska has also recently invested in Travefy, Drive Spotters, and Ink.
Solvay is a chemistry corporation based out of Belgium that provides chemicals, solutions, and materials. MultiMechanics stands as the only startup that Solvay has invested in since 2015, when they provided funding to Cytec Industries, a specialty chemicals and materials company.
“Our customers greatly benefit from the software systems we develop,” said Leandro Castro, co-founder and Chief Executive Officer of MultiMechanics. “I am delighted that we have broad support from these new investors to help us continue to grow our team, our product offerings, and our business.”
The company was founded in 2010 by Leandro Castro and Flavio Souza, both of whom earned undergraduate degrees from the Federal University of Ceara in Brazil. They ended up involved with the University of Nebraska in Lincoln through a collaborative program between the two schools that was run by former Dean of the College of Engineering, Dr. David Allen.
“Interestingly, we didn’t even meet each other in Brazil,” Souza said. “We first met each other in Lincoln during a research group meeting.”
MultiMechanics solutions are based on computer-aided engineering (CAE) and enable modeling and prediction of failure with complex materials. Their TRUE Multiscale technology was developed over six years and can visualize crack propagation and stresses at multiple scales.
The software serves many industries, including aerospace, automotive, 3D printing, energy, composites, biotech, polymers, and pharmaceuticals. This investment round follows a partnership between MultiMechanics and Solvay to model complex composites in the aerospace and automotive industries.
This new round of funding will be used to grow the MultiMechanics engineering team, push product development, and expand its market position in the commercial marketplace.
“This investment round will not only help us maintain our projected growth path,” said Flavio Souza, co-founder and Chief Technology Officer, “but also ensure we attract the best talent both here in Omaha and from outside of the region, so we can keep pushing the boundaries of our technology.”
MultiMechanics certainly has the capital to move things along after this latest addition to its coffers. With their ability to make testing and modeling more accessible to smaller companies, it is likely that it will accelerate development for many other startups. It will be interesting to watch as the company grows and provides services as time goes on.