SmartUQ, a participant in the Madworks Accelerator program, raised $1.8 million in seed funding from 21 Wisconsin investors.
SmartUQ raises $1.8M for simulation analytics software
By Jeff Engel, Xconomy
SmartUQ, a Madison, WI-based startup that has developed software to speed up the design of a variety of products, has raised nearly $1.8 million in seed funding, according to a new filing with the SEC.
The money comes from 21 Wisconsin investors, most of them individuals, according to the document and the company.
SmartUQ, previously known as Metamodeling Analytics, was founded this year by Peter Qian, a University of Wisconsin-Madison statistics professor.
The company’s software performs what Qian calls “simulation analytics.” Essentially, it can rapidly run complex tests with multiple variables for customers that want help designing products or making business decisions. The software could allow an automaker, for example, to quickly—in seconds or minutes—run simulations to better model a new part, or could help an architect predict the energy consumption of a proposed building by modeling the thermodynamics, Qian says. Read more …