Toolpath, makers of AI tools to optimise CNC machining has closed an investment round led by machine tool manufacturer Kennametal, and existing Toolpath partner ModuleWorks.
Toolpath’s software integrates AI into the CAM process, optimising tool selection and toolpath strategies. The platform analyses machining processes and the parts a process will make, providing manufacturers insights to make better decisions about which jobs to quote, estimate costs accurately, and optimise machining operations.
Workflow steps, from initial job evaluation to machining plan, including tooling and operations, are all covered in Toolpath, thanks to its applied AI and proprietary Part Comprehension Engine that helps professionals at critical stages of the machining business, enhancing their work rather than replacing it.
Kennametal is a global manufacturer of high-performance cutting tools and engineered components, putting it at the heart of the manufacturing sector.
The deepening of its partnership with ModuleWorks is billed by Toolpath as a marker toward the eventual integration of the full range of ModuleWorks functionalities into the Toolpath platform. Additional investors in this round include Leaders Fund.
“This partnership represents a bold step in our digital transformation journey,” said Kennametal CTO Carlonda Reilly. “Toolpath’s platform amplifies our industry-leading application engineering expertise through its intuitive, intelligent software. It’s a smart, scalable solution that brings the power of AI to the shop floor in a practical and impactful way.”
Toolpath CEO Al Whatmough, said: “The industry-leading caliber of these investors underscores that our AI-powered tools bring genuine, immediate value to machining businesses and manufacturers.
“Enabling shops to use modern technology to improve results for their customers, while increasing productivity and profits, is a vision we have in common with all our investors. It’s fantastic to all be rowing in the same direction.”
