Software firm Hyperganic has announced the closing of $7.8m in its first venture capital investment round.
German organisations HV Capital and VSquared Ventures have led this investment round, with contributions also coming from US-based Converge, jewellery company Swarovski and ARM co-founder Hermann Hauser. Previously, Hyperganic had been funded by founders and early employees, as well as a select group of angel investors, including serial entrepreneur Marc Gumpinger, Chris Hitchen’s Inventures and Acecap, the fund of Hank Virgil and Marc Jalabert, who are best known for their work with Microsoft.
The company, founded in 2017, has chosen 2021 as the year in which it will come out of stealth with its Core and Print Framework tools, and plans to harness the funding to drive the global rollout of those products while also expanding its team. Hyperganic has come to market with the aim of changing how engineers design products, pushing forward an AI-based approach which sees computer algorithms developed in order to create parts.
Over the last six years, the company has been working to develop its technology’s capacity to generate these algorithms through its Core offering, with work carried out on Print Framework to then ready the designs for 3D printing. Hyperganic and its partners have already successfully developed applications in the aerospace, consumer goods and medical fields using Core’s algorithm-based design capabilities. Designs are generated after part specifications, along with other datasets, are inputted into Hyperganic’s platform, with users then able to re-use the algorithms to harness, for example, the lightweight characteristics of part A in the medical industry and implement them for part B in the consumer goods market. Hyperganic and its investors believe these capabilities potentially represent a ‘paradigm shift’ in how parts are designed.
“Humanity’s biggest challenges can only be solved through a giant leap in technology,” commented Lin Kayser, co-founder and CEO of Hyperganic. “We’ve created Hyperganic to fundamentally change how we design and build the things around us. Now, we are ready to shift gears. We are happy to have the support of such a diverse team of investors on this exciting journey.”
“Hyperganic rings in a paradigm change in product design and manufacturing more profound than what we can conceive today,” offered HV Captial’s Fabian Gruner. “As VCs, we are always looking for founders and companies who can really ‘change the world’ – and Lin and his team are going to do exactly that.”
Swarovski Director of Innovation Graham Hench added: “We’re excited to see Lin and his team at Hyperganic bring a strong group of investors together to support a shared goal with Swarovski in accelerating sustainable manufacturing for a sustainable future. We’re looking forward to the journey ahead.”
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