Imperial startup TOffeeAM has secured £5 million in international venture capital investment to further support its AI-driven approach to designing greener engines and machines. The Series A investment round was led by Presidio Ventures and East Innovate, with participation from IQ Capital, Exor Seed, Type One Ventures, Excellis, and angel investors. Founded in 2019 by three academics from Imperial’s Department of Aeronautics, TOffeeAM counts Boeing, Rolls-Royce, and Formula 1 racing teams among its clients.
The Series A investment round was an international affair, with Presidio Ventures and East Innovate leading the investment, and participation from UK-based IQ Capital, which led TOffeeAM’s seed round, as well as Exor Seed, Type One Ventures, Italian investor Excellis, and several veteran angel investors. The funding will enable TOffeeAM to scale globally and continue to help businesses across various industries design innovative products.
According to Daniel Carew, Principal at IQ Capital, TOffeeAM’s understanding of both the end customer and technology is testament to the exciting innovations emerging from UK universities. TOffeeAM’s AI system, developed by its co-founders, replicates the work of highly trained and highly creative human engineers, but faster and cheaper. This, combined with the latest advanced manufacturing technologies, such as 3D printing, enables the company to drive large carbon dioxide and pollution reductions, increase reliability, and overall performance.
In addition to securing venture funding, TOffeeAM was one of 10 companies selected to participate in Aerospace Xelerated, a 12-week accelerator programme run by Boeing for startups using AI and autonomous technology to address challenges across the aerospace and defence industries. The company also received funding from Innovate UK to develop an AI-driven framework for next-generation heat exchangers, allowing it to work directly on a Net Zero challenge that requires better thermal conversion systems.
The latest injection of funding will allow TOffeeAM to pursue these developments while scaling-up its business globally, with a focus on US and East Asian markets, while remaining headquartered in the UK. According to Professor Francesco Montomoli, co-founder of TOffeeAM and its chief executive, this investment will enable the company to help businesses across numerous industries design innovative products, contributing to a sustainable future.
