Hardware testing startup Nominal hits $1B valuation, raises $155M in 10 months

In Brief

Nominal connected Thursday announced a caller $80M Series B hold circular astatine a $1 cardinal valuation, led by Founders Fund. This followed the company’s $75M Series B circular led by Sequoia successful September.

Nominal offers bundle that helps hardware engineers trial their designs and began arsenic a picks-and-shovels benignant of startup for the defence industry. The three-and-a-half-year-old, L.A.-based institution says that successful the past 10 months, it has landed 4 of the 5 largest defence contractors arsenic customers.

CEO and co-founder Cameron McCord (pictured) is simply a erstwhile U.S. Navy submarine serviceman and Anduril alum, the defence tech company, which is besides 1 of Nominal’s marquee customers. So possibly it’s nary astonishment that Anduril co-founder and enforcement president Trae Stephens, who is besides a Founders Fund partner, led this arsenic a preemptive deal, McCord told Bloomberg. Sequoia, General Catalyst, Lux Capital, Red Glass, and Lightspeed besides participated.

Next up, Nominal plans to grow beyond defence tech and into concern sectors similar automotive, robotics, and different industries.

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