CloudNC <> Bootstrap Europe Case Study
CloudNC is on a mission to deliver an autonomy revolution in manufacturing, transforming the production of precision parts for everything from aircraft and vehicles, to furniture and construction. The autonomous manufacturing company’s CEO and co-founder, Theo Saville tells us:
“It’s a dirty and deeply inefficient industry that we’re in. Machinery is used about 9% as efficiently as it could be, which has enormous consequences for the unit economics and carbon footprint of the process. We are here to change that, using advanced software tech to multiply the output of the same equipment while removing much of the waste, disrupting the industry and making it sustainable for the future”.
Bootstrap Europe was able to support CloudNC’s journey to spearhead a greener manufacturing industrial revolution with a sizeable investment,
Theo Saville tells us: “It was a truly fantastic experience with Bootstrap Europe right from the start — they are an inherently founder-friendly venture debt firm, and that’s rare. They deeply understand an entrepreneur’s journey; they know what it means to run a scaling business.
“The team is really capable — they sought to learn our business and industry in detail. The team is just very proactive on all fronts, and the references we got on Bootstrap Europe were exceptional, even from founders whose companies were struggling, which is a key consideration for an entrepreneur taking on venture debt”.
CloudNC’s goals to change the manufacturing industry is no small feat. To be successful they knew that they would need venture backing to get to the next stage of growth.
Theo Saville said: “We needed to hit a group of key technological milestones — evolving our tech out of R&D and bringing it into the real world to our customers. To do this we needed funding from the right firm”.
CloudNC’s funding journey wasn’t simple.
“We spoke to many Venture Debt firms and we were deeply disappointed. Many firms we spoke to were inflexible, much more debt than venture, and they were not very supportive or understanding of our mission. It wasn’t easy going through that vetting process, that was until we came across Bootstrap Europe”.
Thanks to the venture debt funding they received from Bootstrap Europe, today, the CloudNC team, its revenue and customer base continues to multiply as a result of their disruptive advantage over the incumbent manual industry.
“Bootstrap Europe deserves to win more business. They are committed to working with socially-minded businesses that make an impact on global industries”.
To find out more about CloudNC, you can visit their website here.
Bootstrap Europe supports thriving industries across the globe, from green energy and genetic testing to SaaS, fintech and smarter city solutions; the team’s collective experience has ensured that the fund includes some of Europe’s fastest, socially-focused scale-up businesses.
To find out more about how Bootstrap Europe helps scale-up businesses, you can visit our website here.