London-based 3D printing software startup TOffeeAM has raised £5m in a Series A funding round to scale the business globally, with a focus on the US and Asian markets.
Founded in 2019 as a spinout from Imperial College London, TOffeeAM develops software used by engineering firms – including Boeing and Rolls-Royce – to design fuel-efficient machinery that has reduced CO2 pollution.
The company claims its automated software can design machine components, made via additive manufacturing, with “human-like” levels of creativity. TOffeeAM’s designs can also incorporate sustainable fuels.
“We are delighted to have received this investment from our funding partners,” said TOffeeAM CEO, Francesco Montomoli.
“This funding will give TOffeeAM the opportunity to scale globally and continue to help businesses across numerous industries to design innovative products.”
The funding round was led by Presidio Ventures and East Innovate. The round also featured participation from IQ Capital, Exor Seed, Type One Ventures, and Excellis.
“Looking for solutions to help businesses across all industries achieve net zero is vital if we are to protect our planet for future generations,” said East Innovate’s Rory Scott Russell.
TOffeeAM’s previous funding round came in July 2020, when the company raised £1m in a round led by IQ Capital.