TOffeeAM, a London, UK-based 3D printing software company using AI to design the super-green machines of the future, raised £5 million in Series A funding.
Presidio Ventures Europe led the round, part of Japanese trading and investment group Sumitomo Corporation, with participation from IQ Capital, Exor Seed, US venture fund Type One Ventures, Italian investor Excellis, and sector veteran angel investors.
The fund will allow TOffeeAM to continue to scale its business globally, focusing on US and East Asian markets, while maintaining its headquarters in the UK.
Francesco Montomoli, CEO of TOffeeAM, said: “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.”
TOffeeAM’s AI software is used by some of the world’s leading engineering companies, including Boeing, Rolls-Royce, and several Formula One teams.
Company: TOffeeAM Ltd.
Raised: £5.0M
Round: Series A
Funding Month: November 2022
Lead Investors: Presidio Ventures Europe
Additional Investors: IQ Capital, Exor Seed, US venture fund Type One Ventures, and Excellis
Company Website: https://www.toffeeam.co.uk/
Software Category: Automated Design Software
About the Company: Founded in 2019 by Marco Pietropaoli, Audrey Gaymann, and Francesco Montomoli, they developed an AI system that replicates the work of highly trained and highly creative human engineers, but it does it faster and cheaper. TOffeeAM is an Imperial College London spinout. ToffeeAM is promoting a low-emissions version of its AI-powered 3D printing design software to encourage top engineering firms to reduce emissions. Combined with the latest advanced manufacturing technologies, TOffeeAM’s hyper-efficient, lightweight, and low-waste designs drive large CO2 and pollution reductions while increasing reliability and overall performance. It has a team of 20 people from the US, UK, EU, Egypt, and other ethnicities.
Source: https://techfundingnews.com/toffeeam-helps-companies-achieve-net-zero-with-hyper-efficient-lightweight-low-waste-designs-secures-5m/