ModuleWorks Invests in Toolpath Labs

ModuleWorks, a company focused on toolpath generation, simulation and automation software, reports a financial investment in Toolpath Labs, a company leveraging AI to optimize machining. The investment is part of a round of strategic investment in Toolpath Labs led by Kennametal Inc. and also joined by Leaders Fund.

The investment from ModuleWorks builds on the technology partnership announced between ModuleWorks and Toolpath Labs in September 2024. The funding from this latest round is intended to boost development and deployment of AI-driven user-centric solutions for the manufacturing industry. The collaboration between ModuleWorks and Toolpath Labs aims to deliver automation, intelligent estimation and streamlined workflows to machine shop managers, estimators, planners and CNC programmers, according to the companies.

“Deepening our partnership with Toolpath reflects our shared commitment to accelerating innovation in AI-driven manufacturing software,” says Dr. Yavuz Murtezaoglu, founder and managing director of ModuleWorks. “By combining our proven machining technologies with Toolpath’s advanced AI platform, we’re able to deliver powerful solutions into users’ hands faster. This investment naturally extends our mission to advance the manufacturing ecosystem through open collaboration, cross-industry partnerships and software innovation.” 

“The industry-leading calibre of these investors underscores that our AI-powered tools bring genuine, immediate value to machining businesses and manufacturers,” says Al Whatmough, Toolpath CEO. “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.”  

Kennametal has an equity stake in ModuleWorks. This latest investment round in Toolpath Labs extends and strengthens the ongoing cooperation between all the involved companies.

About ModuleWorks 

ModuleWorks, as a strategic partner to leading CAD/CAM vendors, CNC control makers, machine tool builders and cutting tool manufacturers, develops software. Founded in 2003, ModuleWorks has grown to over 250 employees and invested in software development in toolpath and simulation technologies that form the core of manufacturing processes. In the CAD/CAM area alone, ModuleWorks has a market share of 90%, enhancing the performance and quality of over 500,000 installed seats of CAD/CAM and CNC software worldwide. 

About Toolpath Labs

Toolpath Labs is an AI-focused start-up focused on new solutions for the manufacturing industry. Toolpath’s mission is to help manufacturers achieve efficiency through the practical application of artificial intelligence, machine learning and real-world experience. 

Sources: Press materials received from the company and additional information gleaned from the company’s website.