TOffeeAM secures £5m venture capital investment

Stay up to date with everything happening in the wonderful world of AM through our LinkedIn community.

According to Imperial College London, one of their startups, TOffeeAM, has secured £5 million in international venture capital investment, which will support the company’s further development in applying AI to design greener and cleaner engines and other machinery. TOffeeAM’s customers already include names such as Boeing and Rolls-Royce, as well as several Formula 1 racing car teams.

“We are delighted to have received this investment from our funding partners, new and old,” said Professor Francesco Montomoli, co-founder and CEO of TOffeeAM. “This funding will give TOffeeAM the opportunity to expand globally and continue to help companies across many industries build innovative products.”

Source: Imperial College London.

The Series A investment round was led by Presidio Ventures, part of Japanese multinational Sumitomo Group, and London-based venture capitalist East Innovate. UK tech investor IQ Capital, which led TOffeeAM’s seed round, also participated, alongside Exor Seed from the Netherlands, Type One Ventures from the US, Excellis from Italy and several other angel investors.

Since our initial investment in 2019, we recognized the potential of the TOffeeAM team and technology,” said Daniel Carew, Principal at IQ Capital. “Their understanding of both the end customer and the technology is testament to the exciting innovations emerging from UK universities.”

TOffeeAM was founded in 2019 by Professor Montomoli, Dr Marco Pietropaoli and Dr Audrey Gaymann, from the Department of Aeronautics. Together, they developed an AI system that replicates the work of highly skilled, highly creative human engineers – faster and cheaper.

TOffeeAM secures £5m venture capital investment to further apply AI to design greener, cleaner engines.
TOffeeAM’s software makes it possible to plot and print complex designs. Source: Imperial College London.

Combined with manufacturing technologies such as 3D printing, TOffeeAM’s lightweight and low-waste designs can lead to significant reductions in carbon dioxide and pollution while increasing reliability and overall performance. The system 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.

Early 2022, TOffeeAM was one of 10 companies selected to participate in Aerospace Xelerated – a 12-week acceleration program, managed by Boeing, for startups using AI and autonomous technology to address challenges in the aerospace and defense industries. “We made new industry contacts and had the opportunity to showcase how the TOffeeAM platform can be used to redesign the next generation of aircraft engines and aerospace systems for Net Zero,” said Dr. Marco Pietropaoli.

Over the past year, TOffeeAM has not only collaborated with Boeing, but it has also collaborated with Rolls-Royce on a project that optimizes cooling systems in the electrification of aircraft engines – the results of which were presented at of an American Society of Mechanical Engineers.

TOffeeAM secures £5m venture capital investment to further apply AI to design greener, cleaner engines.
The TOffeeAM team.

On top of all this, in May TOffeeAM was shortlisted to receive up to £300,000 for an Innovate UK project to develop an AI-based framework for next-generation heat exchangers. The goal is to produce an open source and curated dataset for modeling turbulence in the design of printed circuit board heat exchangers and cold plate cooling systems, which are used in many industries currently tackling electrification and strive to achieve net zero carbon emissions.

“This is a very exciting project for TOffeeAM, giving us the opportunity to work directly on a Net Zero challenge that requires better thermal conversion systems,” said Dr. Audrey Gaymann. “It allows us to develop new features that will be used in our optimization system, and produce data that will be shared with the general public.”

The latest injection of funding will allow TOffeeAM to continue these developments, while expanding its business globally. While the focus will be on the US and East Asian markets, the company’s headquarters will remain in the UK.


About Author

Comments are closed.