Circuit Mind raised US$25 million in new financing, including a US$18.5 million Series A led by Norwest. The round brought total funding to US$33.4 million and included existing investors Third Prime, Differential, and Blackhorn, plus new investor Lightscape VC. The London-based company builds an AI platform that helps enterprise electronics teams design, verify, and optimize circuit boards.
Investor lineup
The financing drew participation from existing investors Third Prime, Differential, and Blackhorn, plus new investor Lightscape VC. It also included a previously unannounced Seed round led by Third Prime. Norwest General Partner Dave Zilberman will join Circuit Mind's board.
Customers and early results
Emerson, Schneider Electric, and Fortune 5 companies already work with Circuit Mind. The company says the platform can cut design time from months to weeks. It also reports a 25% reduction in bill of materials cost.
What the platform does
Circuit Mind's platform includes ACE and AVE. ACE turns hardware block diagrams into schematics and bills of materials. AVE, launched today, verifies designs against datasheets and company design rules.
The company will expand its platform across the full electronics design lifecycle. It will grow sales, engineering, and customer success teams. Circuit Mind also plans to open a U.S. headquarters to serve North American customers.