$1.3 million of venture capital for Envenio
Celtic House Venture Partners, Green Century Investments and New Brunswick Investment Foundation are providing the venture capital investment to the Fredericton-based software company.
The initial intellectual property was developed by UNB and licensed by 3 mechanical engineering graduates that created Envenio six years ago. The companies software lets engineers analyze and solve problems involving the flow of liquids and gases (computational fluid dynamics - CFD), its algorithms allowing general computers to simulate the flow of these substances. Originally created as a service company, Envenio expanded with the launch of products that would allow their clients to conduct their own studies at a fraction of the price offered by competitors. To continue the companies growth, Envenio will keep to its plans to increase the use of its cloud-hosted, on-demand CFD platform, EXN/Aero.
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