Oqton, Inc. has raised over $40 million in a Series A financing round, led by Fortino Capital, a B2B software investor, by PMV, the regional Flemish investment fund, and by Sandvik, a global engineering group.
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. Both Samir Hanna and Ben Schrauwen are serial entrepreneurs, previously at Autodesk together, where they spent 10 and 4 years respectively in senior executive positions before founding Oqton.
The founding team (Samir Hanna and Ben Schrauwen) and several angel investors, including Carl Bass (former CEO Autodesk), Dries Buytaert (Drupal and Acquia), 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).
Oqton’s platform 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.
Oqton has already established partnerships with EOS, Sisma, Trumpf, Prodways and Sandvik.
Oqton’s Co-Founder and CEO, Ben Schrauwen, said: “We are keen to have new investors on board who can help us scale globally, with both a direct and indirect sales approach. We truly think the time has come for the manufacturing space to embrace the cloud and we are working hard to facilitate this.”