SmartUQ, a Madison, WI-based software developer whose digital tools allow users to test the performance of physical products and the parts they’re made of, has raised more than $1.9 million from investors.
Twenty-five investors participated in the equity financing round, according to an SEC filing. Peter Qian, who founded SmartUQ in 2014 and serves as its chief scientist, says that all of the money came from individual investors. Most participants in the round had backed the startup previously, Qian says, but some new investors also took part. Read the full story here.