Oqton announced a $40 million series A round led by Fortino Capital.

Belgium Sweden United States Investments 15 January 2021
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Oqton, a Gent, Belgium-based software developer for the manufacturing industry, announced completing a financing round of $40 million, in what they say it is a series A round.

The money was raised from investors led by Fortino Capital, by PMV, the regional Flemish investment fund, and by Sandvik, a global engineering group.

The founding team and several angel investors, including Carl Bass, Dries Buytaert and Peter Mercelis (Layerwise) also participated in the round.

The financing will be used to further develop its platform, while expanding its commercial partnerships in multiple domains and verticals (Additive manufacturing, Robotic welding, CNC machining).

This funding round coincides with the announcement that Ben Schrauwen, Oqton’s CTO, will be taking over as CEO. Samir Hanna, Oqton’s Co-Founder and leaving CEO, will become Executive Chairman.

Oqton, founded in 2017 by Samir Hanna and Ben Schrauwen, developed a solution that combines several manufacturing software capabilities (CAD, PLM, CAM, IOT, MES, QMS) into a single platform, enabling an unprecedented degree of AI-powered automation and optimization. Users can automatically capture expert knowledge and eliminate repetitive tasks, access technologies remotely and across multiple sites, and optimize production planning to improve utilization and quality.

Founded in San Francisco, Oqton is based in Ghent, Belgium, with offices in the US, China and Denmark.