CELUS raises €25m in Series A Funding

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CELUS, a German deep tech company that uses AI to streamline circuit board engineering, has raised a €25m Series A funding round led by Earlybird Venture Capital.

CELUS is looking to improve levels of efficiency and quality assurance for electronic engineering professionals, distributors, and component manufacturers. Every electronic product contains a circuit board which itself contains thousands of hardware components - each with their own specifications, price and availability.

Usually, circuit boards are designed manually using an engineer’s experiential knowledge and their research of necessary components. This leads to very complex, time-consuming, and iterative design cycles to get to the final design and component selection.

CELUS has developed a cloud-based engineering platform that supports electronics engineers with rich component data from electronic manufacturers and adds automation to accelerate the design process and, according to the company, using the platform design times can be reduced by as much as 90%.

With the industry facing severe chip shortages, and with new components being introduced and old components, becoming obsolete CELUS looks to make the design process more accessible to many more engineers, facilitating direct information flows between electronic component manufacturers and their customers.

Founded in 2018 today more than 1,800 engineers use the CELUS Engineering Platform, an increase of 3,000% compared with December 2021.

CELUS CEO, Tobias, said, “Engineers spend far too much time relying on their memories, or manually searching parts that might serve a certain function. CELUS changes the game, providing engineers with the digital tools to dramatically speed up this process and automate much of the hard work. This fresh round of funding allows us to grow our user base globally and open a CELUS office in the US - positioning us in the heart of the electronics industry.”

Sir John Rose, the former CEO of Rolls Royce and one of the round’s leading investors, added, “CELUS’ entry into the electronics engineering market is extraordinarily well-timed and important for the industry. Acquiring components for circuit board design and creation became increasingly difficult during the Covid-19 pandemic, but CELUS’ technology sweeps away many of these obstacles from an engineer’s design path.”