MADISON, WI, Oct 30, 2018 – SciArt Software, Inc., a University of Wisconsin-Madison spinoff, announced it raised $530,000 in seed funding from the Idea Fund of La Crosse.
The Madison-based company’s software provides a new analysis and optimization tool to generate options for design engineers who are looking to explore the design space while reducing weight and part count. SciArt Software sells to companies who are under pressure to lower weight of their products while meeting strength, stiffness and part fatigue requirements: these include companies in the Aerospace, Automotive, Defense, Handheld Tools and Performance Vehicle industries. Reducing the weight of the average car by 100 pounds improves automobile MPG by about 1%, and new, lighter cargo carriers saved United Airlines $1.4M annually.
The idea for Pareto, SciArt Software’s proprietary analysis and optimization engine, emerged from over 10 years of consulting and research, during which chief science officer, Professor Krishnan Suresh encountered several deficiencies with current design optimization methods. “The slow nature of current methods translates into longer product development cycles, and increased product cost,” said Suresh. “Based on our research, I knew we could develop a radically different, and significantly better method.”
The kernel for the SciArt Software product is licensed from the Wisconsin Alumni Research Foundation (WARF). SciArt Software built several CAD plug-in tools so the design engineer can explore the design space within the framework of their existing CAD application, which gives customers the ability to control all aspects of their design process and expands simulation tools beyond the specialized analysis team. ”Generative Design, including Topology Optimization, will fundamentally change the way high-performance product designs are developed”, says Dr. Keith Meintjes of CIMdata, a leading consultancy. “Rather than the current practice of design, evaluate, redesign, the software promises to directly create designs that work, from statements of requirements and constraints.”
Karen Caswelch joined the company in August as CEO following a national search. Caswelch brings 10 years of experience in the C-suite of 4 technology startup companies after retiring from a 24-year, award winning career at General Motors. She has a Mechanical Engineering degree from MIT and an MBA from Harvard Business School.
“The Idea Fund is excited about the potential of SciArt Software’s innovative technology,” said Jonathon Horne, managing director of the Idea Fund of La Crosse. “Additionally, CEO Karen Caswelch is an exceptional leader, with deep industry knowledge and a world-class background. SciArt Software is poised to revolutionize the generative design business.”
About SciArt Software
SciArt Software is at the forefront of democratizing analysis for Design Engineers by providing a GPS for the engineer which generates designs based on engineering constraints. Rather than iterating designs between the Design Engineer and the Analysis team over multiple cycles which can take weeks, SciArt provides insight directly to the engineer at an average rate of 60 times faster than current solutions. Due to the innovative processing algorithms, SciArt’s intuitive SaaS product can be used as a standalone or a plug-in to major CAD programs: all run on the Engineer’s laptop or desktop computer.
For more information about SciArt Software, or to schedule a 30-day free trial visit www.sciartsoft.com.
About Idea Fund
The Idea Fund of La Crosse was established in 2016 to invest in early-stage startup companies and currently has $13mm under management. The fund targets Wisconsin-based startups that are either pre-revenue or early-stage revenue, diversified across sectors. The fund seeks to partner with highly skilled founders and provides support from initial investment through company exit.
For more information about the Idea Fund of La Crosse visit www.ideafundvc.com.