Nantes, France, October 7, 2020 – Nextflow Software, a startup spun off from Centrale Nantes technical institute, just closed a first round of financing for a total amount of three million euros. This Series A round will allow Nextflow to accelerate the sales of its innovative numerical simulation software and continue its international development.
This operation includes 2 million euros equity investment from French funds Ouest Ventures III and Litto Invest managed by GO CAPITAL, and 1 million euros loans from French public bank Bpifrance and private bank CIC Ouest.
Accelerating the international development of Nextflow
Nextflow has already strong partnerships with French major industrial accounts such as Renault, Michelin, Dassault Aviation, Airbus, EDF. This financing round will allow Nextflow to export its software to other countries and accelerate its commercial development. The startup initiated a first network of resellers in Asia and already met its first success in Japan and South Korea with the signature of a license agreement with LG Corp in September 2020. This new financing will help Nextflow conquer new markets in Europe, North America, and continue its expansion in Asia.
“Nextflow has developed for many years an innovative technology that now reaches industrial maturity and meets its first customers. GO CAPITAL plays its role by helping deep-tech startups in their international growth”, says Jérôme Guéret, General Manager of GO CAPITAL. “We are proud to support Nextflow’s excellent team in its new development stage.”
Broadening the application domains of fluid dynamics simulation, by making it simpler, faster and more accurate
Based on new Computational Fluid Dynamics (CFD) methods, Nextflow’s software has been co-developed for more than 10 years with Centrale Nantes, French CNRS and Italian CNR.
These numerical simulation tools are revolutionary because their “meshless” nature allows them to :
- Make simulation available to new industrial applications that other software can’t address
- Save up to several weeks of engineering time on projects
- In certain cases, reduce drastically computation time (up to 10 times faster than traditional CFD methods)
“Nextflow provides revolutionary software to the fluid dynamics simulation domain. We bring to the market innovative methods that push the limits of numerical simulation and democratize its use for most designers of industrial products, systems and equipment”, says Vincent Perrier, CEO of Nextflow Software. “We are delighted by the confidence that GO CAPITAL shows in our team and project, and we will leverage this first round of financing to reach out to all industries dealing with fluid flows.”
Today, Nextflow has about 20 employees, mostly engineers and doctors, who include some of the world-experts in meshless CFD, as shown by the international awards won by the company.
The startup was created in 2015 by Erwan Jacquin, PhD in CFD, founder of a first successful startup spun off from Centrale Nantes and named HydrOcean. Nextflow is part of Centrale Nantes incubator and has Centrale Innovation as a shareholder. The company is managed by Vincent Perrier, who’s also a serial entrepreneur.