Nominal is a startup founded four years ago, headquartered in Austin, that provides a AI platform specifically designed for engineering and complex hardware testing. Its application scenarios include aircraft, nuclear reactors, and smart factories. The company has also completed another round of significant financing, which has doubled its valuation.

The company announced on Monday the completion of a $240 million Series C financing round, raising its valuation to $3 billion. The round was led by Lightspeed Venture Partners, with Insight Partners also co-leading the investment.

Just a few months have passed since the company announced in March of this year that it had completed a $155 million Series B financing round, with a valuation of $1 billion at that time, led by Trae Stephens of Founders Fund. Nominal described that round of financing as a “preemptive” transaction, which means that it was initiated by the investors, rather than the startup company.

The company's other investors include Sequoia, General Catalyst, and Lux Capital.

Nominal indicates that it has 80 commercial and government organizations among its clients. One of its important clients is Anduril, a defense company co-founded by Stephens.

Nominal also won a government contract in October, and the US Air Force chose to provide it with a Strategic Funding Increase ($71.2 million) investment from STRATFI. This project requires additional funding from sources other than the Air Force.