“Breakthrough” AI platform to help companies achieve net zero via £5m funding

TOffeeAM, the London based software company using artificial intelligence to design the super-green machines of the future, has successfully raised £5m in its Series A funding round.

The round was led by Presidio Ventures Europe and venture capital investor East Innovate. UK deep-tech investor IQ Capital, who led ToffeeAM’s seed round, also participated in the round as did Exor Seed, US venture fund Type One Ventures, Italian investor Excellis, and sector veteran angel investors.

The funding will allow the company to continue to scale its business globally with a focus on US and East Asian markets, while maintaining its headquarters in London. ToffeeAM’s AI software is used by engineering companies including Boeing, Rolls-Royce, and several Formula One teams.

Its AI replicates the work of highly trained human engineers, but it does it faster, cheaper, and often with levels of human-like creativity and invention once thought to be impossible for a computer.

Combined with the latest advanced manufacturing technologies, ToffeeAM’s “hyper-efficient”, lightweight, low-waste designs can reportedly drive large CO2 and pollution reductions while increasing reliability and overall performance.

It can also enable the wider use of sustainable fuels, the design of better batteries, the development of advanced nuclear technologies and other innovations needed for a sustainable future.

Francesco Montomoli, CEO, commented: “We are delighted to have received this investment from our funding partners, both new and old. This funding will give TOffeeAM the opportunity to scale globally and continue to help businesses across numerous industries to design innovative products.”

Rory Scott Russell from East Innovate, added: “We are delighted to co-lead this investment alongside Presidio Ventures and to support TOffeeAM’s internationally recognised team as they begin the next stage of their growth journey.

“Looking for solutions to help businesses across all industries achieve net-zero is vital if we are to protect our planet for future generations.”

Founded in 2019 by Marco Pietropaoli, Audrey Gaymann and Francesco Montomoli, TOffeeAM has already built a strong global customer base. The IP is based on research from Imperial College and has received several key industry awards since the business was founded.

By Matthew Neville – Correspondent, Bdaily

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