Euler raises €2M to scale AI monitoring of Additive Manufacturing
Euler, based in Hafnarfjörður, Iceland, has announced a €2 million seed funding round co-led by Iceland’s Frumtak Ventures and Nordic industrial tech investor Kvanted. Euler is a developer of AI-native software used to identify faults via intelligent real-time monitoring, helping to deliver more reliable and consistent production.
Euler intends to use this investment to accelerate the rollout of its platform, expand its team with a focus on its sales and marketing departments, and scale product development. This round follows an initial €2 million raised in public European grants since the company’s founding. Additionally, Euler has begun the process of trademarking its core technology, having already applied for three separate patents.
A spinout of the Technical University of Denmark, Euler announced this round ahead of its appearance at Formnext in Frankfurt, Germany (Hall 11.0 Booth E39).
Euler’s platform aims to alert manufacturers to potential defects before they occur, thereby saving crucial time and resources, and enabling more reliable part production at scale. In a white paper conducted with the Danish Technological Institute, Euler reported a 77% reduction in failed build time and more than 20% increase in revenue through improved overall equipment effectiveness.
Autodesk Director of Additive Manufacturing, Alexander Oster, commented, “In my 25 years of being in this industry, I have very rarely seen a team and product which so profoundly leapfrogs the state of the art in the way Euler does.”
Euler leverages deep AI and process expertise to enhance fault detection for Laser Beam Powder Bed Fusion (PBF-LB) and Selective Laser Sintering (SLS). Euler can be easily integrated with market-leading AM machines and leverage machine camera data and AI algorithms to conduct AM analysis without expensive monitoring equipment. Euler already serves several high-profile international clients, including Alloyed and KMWE, as well as innovative RTOs such as the Danish Technological Institute and the Korea Institute of Industrial Technology.
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Euler co-founder and CEO Dr Eyþór Rúnar Eiríksson, shared, “Additive Manufacturing has yet to live up to its hype, despite its disruptive potential. Challenges around cost, scalability, and quality assurance remain. Euler is already helping manufacturers overcome these issues, and this investment will enable us to continue our growth and expand exponentially, solidifying Additive Manufacturing as a reliable production process.
Frumtak Ventures Partner Ásthildur Otharsdóttir, commented, “This investment is representative of the next wave of innovative Icelandic startups, combining academic nuance with advanced technology to solve a long-standing industry issue. Their progress reflects the growing maturity of the Nordic startup ecosystem and its ability to compete globally.”
Kvanted Partner Eerik Paasikivi, added, “Additive Manufacturing is entering a new era of industrial adoption, and Euler’s platform is at the forefront of this. Their technology is bringing the reliability and intelligence needed to finally make large-scale 3D printing viable.”
