Monolith AI raises £1.9m in a seed round led by Pentech Ventures to develop its engineering software
Pentech Ventures led the round with participation from Stanford Angels of the UK, Ascension Ventures and Charlie Songhurst.
Monolith AI provides artificial intelligence engineering software that allows design and engineering teams to optimise product development. The company enables clients to utilise test and simulation data to predict design performance.
Monolith AI has secured £1.9m in a seed funding round led by Pentech Ventures. Additional backing came from Stanford Angels of the UK, Ascension Ventures and Charlie Songhurst.
The capital will be deployed to support the company's work in transforming the engineering design process through its artificial intelligence platform. Monolith AI applies machine learning to complex engineering problems, helping clients in sectors such as automotive and aerospace shorten time to market.
The round follows an earlier seed and angel financing in October 2018 and builds on the firm's participation in the Founders Factory Accelerator and Techcelerate Incubator programmes.
From the founder
"Our goal is to accelerate product development, from race cars to spaceships and everything in between. We believe that traditional engineering will soon change dramatically. Our dream is to work alongside engineers to enable them to bring exponential growth to product development. We are building the world’s first AI Platform for Engineers – we like to describe it as the J.A.R.V.I.S. in Iron Man."
Richard Ahlfeld
CEO and founder at Monolith AI
Investor perspective
"The Monolith platform extracts knowledge and value from historical and current design processes, enabling new designs to be brought to market in a much shorter period of time, and for significantly less cost. We believe they can become the category leader in this emerging sector and are very excited to be working with Richard and the Monolith team."
Eddie Anderson
partner, Pentech
Investors
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About the company
Monolith AI
Monolith AI builds artificial intelligence software that helps engineers optimise product development workflows.