Code Metal Raises $16.5M in Seed Funding
July 23, 2024

Code Metal announced a $13M seed, led by Shield Capital, and a prior $3.45M pre-seed round, led by J2 Ventures, with support from Fulcrum Venture Group, Underdog Labs, and others.

Code Metal will use this funding to continue building modular and verifiable agentic workflows that transform product development timelines from months to days. It also plans to expand its team of experts in hardware, AI, and traditional compiler design to serve its rapidly growing pipeline of customers.

Code Metal's experts from top companies like Microsoft, Imbue, Meta, IBM, and Intel are building a developer platform that integrates traditional formal-methods-based code analysis with advanced custom coding large language models.

“We are on the cusp of a massive transformation in software development, and edge computing stands to benefit the most from this change,” said Peter Morales, CEO of Code Metal. “This funding is a testament to the continued growth in edge computing and the challenges companies face as they rethink their software development strategy. With our investors’ support, world-class talent, and customer validation, we are confident that we are on the trajectory to usher in an entirely new wave of edge-powered devices, from robotics to medical devices.”

“Code Metal has been transformational in designing, building, and delivering intelligence into our logistics network,” said Chris Hartnoll, CEO of HICO Investment Group, which incubates technologies and businesses in the space. “It’s revolutionized how we think about the supply chain.”

“Code Metal is accelerating development at the edge faster than any of its peers at a time where edge deployments are scaling rapidly,” said Michael Brown, Partner at Shield Capital. “Driven by the founders that brought AI systems to the edge in Amazon Alexa, F-35 fighter jets, and Microsoft HoloLens, Code Metal has both the expertise and customer buy-in to tackle this massive market.”

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