CloudNC $20m funding backs AI machining software and new quoting tool

CloudNC has raised $20 million in new investment capital led by Nimble Ventures, the latest CloudNC $20m funding round aimed at expanding its AI software for precision machining. Calculus Venture Capital, Entrepreneur First and LM Ventures, Lockheed Martin’s venture capital fund, also participated, according to CloudNC and Tech.eu.

The London-headquartered company says it will put the money toward broader adoption of CAM Assist, commercial expansion in existing and new markets, customer support and partner activity. It will also fund product development, including Quote Agent, an AI quoting and estimating product CloudNC expects to make available later in 2026.

What does CloudNC’s CAM Assist software do?

CAM Assist uses AI to create CNC machining strategies and toolpaths, a stage in preparing a design for precision machining. TechCrunch reported that the software integrates with CAM products including Autodesk Fusion and Mastercam, assisting with choices such as tools, approach directions, cutting feeds and speeds, and drafting CNC code.

The output is not presented as autonomous production. TechCrunch reported, based on comments from co-founder and chief executive Theo Saville, that users review, edit and approve the software’s work. CloudNC says the product is intended to reduce time spent on repetitive programming work and help skilled teams increase output, though it did not disclose independently verified productivity figures with the announcement.

CloudNC is adding a quoting product

Quote Agent would address an earlier part of the machine-shop workflow: assessing prospective jobs and preparing prices. CloudNC says the planned product will use AI to help manufacturers respond to inquiries more quickly and consistently, reduce administrative work and improve confidence in early job assessments. Those are company objectives, not reported operating results, and the company has given a later-2026 availability window rather than a specific launch date.

CloudNC says its technology is used by more than 1,000 machine shops worldwide, including hundreds in the US. It names Lockheed Martin and Major Tool and Machine among its customers. The company was founded in 2015 and operates from London, with a factory in Chelmsford.

It is also working with Knox Systems toward FedRAMP certification for CAM Assist. CloudNC says certification could help enable US government agencies, defence contractors and other organisations with stringent security and compliance requirements to use the software for sensitive manufacturing workloads. Certification has not been obtained.

What the financing disclosure leaves open

CloudNC’s announcement calls the deal new investment capital and does not state a valuation, formal round label or cumulative funding total. TechCrunch separately described it as a Series B extension and reported that the company’s lifetime funding has reached $128 million. The company’s announcement did not include revenue, headcount or financial targets.

The capital gives CloudNC room to sell into both programming and quoting workflows, but the key commercial test will be whether Quote Agent reaches customers on the stated timetable and whether CAM Assist adoption grows beyond the company’s reported installed base.

This story draws on original reporting from Tech.eu.