Mazda joined existing investors Amadeus Capital Partners, Atlantic Bridge Ventures, and Cambridge Innovation Capital in backing the Cambridge-based firm.
"Secondmind and Mazda have been aligned from day one around a common goal of enabling continuous optimization of vehicle design and performance and helping the automotive industry deliver in the era of the software-defined vehicle. This expanded strategic partnership agreement strengthens our long-standing relationship of deep collaboration, and we are proud to support Mazda in opening new avenues for AI innovation in automotive engineering by way of Mazda’s advanced AI research and education strategy. We’re excited to welcome Mazda as an investor in this funding round alongside Amadeus Capital Partners, Atlantic Bridge, and Cambridge Innovation Capital, and we look forward to leveraging this infusion of capital to accelerate the development and commercial deployment of more high-value system design optimization and calibration applications for Mazda and the automotive industry at large."
General Catalyst led the Series A round to support customer delivery, platform engineering, and research.
"Engineering design processes were transformed by numerical simulation and the availability of high-performance compute infrastructure. The move from numerical simulation to deep learning represents a similar leap and will unlock new levels of product performance and ways of practicing engineering itself. PhysicsX exists to help pioneer and enable that transformation, giving engineers and manufacturers superpowers in bringing new technologies to the real world."
The seed round was co-led by Project A and Prologis Ventures to fund nationwide expansion.
"In Asia, delivery companies were built specifically for e-commerce – in Europe and the US, it was the exact opposite, with delivery companies built for a pre-internet world,"
The debt facility will enable the fintech to provide over £200m in annual funding and advance its product development.
"The vast majority of SMEs we interact with are willing to grant us access to their bank data via Open Banking. They’re familiar with this tool because it is commonly used with their accounting software. They see the benefit of a simpler process than manually providing bank statements and other data. Nor do they have to make personal guarantees when applying to us."
