ASETS-CA hopes to make engineering work as simple as playing a video game, according to CEO Ashwini Oke, and the Fredericton maker of computer-aided design, or CAD, software now has significantly more funds with which to achieve that goal after closing its seed round.

The deal was led by multi-billion-dollar venture capital firm Accel, with additional investors including the New Brunswick Innovation Foundation, San Franciso’s Right Side Capital Management and startup accelerator Gener8tor, which ASETS-CA joined earlier this year, as well as an angel group. Oke said in an interview the money will go towards growing her 10-person team, including by hiring a director of business development.

The company has designed a web application, which it calls its Integrated Design Suite, or IDS, that automates much of the process of designing a new structure, including by checking whether it is compliant with local building codes and regulations. Oke compared the system to Minecraft, a deceptively simple video game in which players arrange a variety of cube-shaped blocks into designs of their choosing.

“IDS is a very lightweight web application with the capability of executing a 3D CAD model for both structures and piping purposes,” she said. “It has not only the capability for 3D CAD, but also executes analysis and designs according to international standards.

“The idea is that even a sales engineer should be able to utilize IDS and quickly get an estimate of his asset." She added that the user really does "not need to know the standards. . . .  It’s very parametrized.”

Originally based in Luxembourg, where it was called ASETS-LUX, the company earlier this year relocated to New Brunswick in preparation for entering commercialization, with several large customers now in its business development pipeline. It is a graduate of the Energia Ventures accelerator, which is affiliated with the University of New Brunswick. 

IDS can be adapted to incorporate new design standards depending on the jurisdiction a user is operating in, with the ability to swap between locations with a few clicks. So far, IDS supports regulatory frameworks from the United States, European Union and India. Oke said the team is working on adding Canada to that list, with rulesets being modified depending on the province and city in a manner similar to how ASETS-CA has adapted its software to intricacies of individual EU countries.

She added that she chose Fredericton as ASETS-CA’s new location specifically to aid in commercialization efforts, noting that one of the key early markets the company is targeting is the energy industry. IDS is particularly adept at working with designs that involve piping, making it well suited to both oil and gas and energy projects.

“In the industry, there are certain conventions and practices engineering companies are habituated to following,” said Oke. “We’re in the phase of allowing them to turn their heads and move towards a different way of executing their work."