Imperial startup TOffeeAM (rebranded as ToffeeX in March 2o24) has secured £5 million in international venture capital investment, money that will support further growth in its business by applying artificial intelligence (AI) to the design of greener, cleaner engines and other machines. It already counts big names such as Boeing and Rolls-Royce among its clients and several Formula 1 racing car teams.

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.

Professor Francesco Montomoli of the Department of Aeronautics, co-founder of the company.

The Series A investment round was an international affair, led by Presidio Ventures, part of the Japanese multinational Sumitomo Group, and London-based venture capital investor East Innovate. UK deep-tech investor IQ Capital, which led TOffeeAM’s seed round, also participated, along with Exor Seed from the Netherlands, US venture fund Type One Ventures, Italian investor Excellis, and several veteran angel investors.

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

Professor Francesco Montomoli of the Department of Aeronautics, co-founder of the company.

Combined with the latest advanced manufacturing technologies, such as 3D printing, TOffeeAM’s lightweight, low-waste designs can drive large carbon dioxide and pollution reductions while increasing reliability and overall performance. The system can also make possible 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.

Read more: AI design startup attracts £5 million in venture funding | Imperial News | Imperial College London