Monumo secures £10.5m seed investment from angels to scale its electric motor design technology.
The Cambridge and Coventry based startup has emerged from stealth to advance its simulation platform for electric vehicles.
Monumo combines deeptech artificial intelligence with traditional engineering to redesign electric motors and target decarbonisation in the global electric vehicle market.
Monumo has secured £10.5m in a seed financing round from angel investors as the company emerges from stealth. The funding will support the business as it deploys its proprietary simulation and optimisation framework to improve electric motor design for automotive manufacturers and tier one suppliers. The company uses artificial intelligence to run millions of daily simulations, helping engineers create quieter and more efficient motors without relying on rare earth magnets.
Founded in 2021 and operating from bases in Cambridge and Coventry, the startup brings together specialists in automotive engineering, physics, and machine learning. Chief executive Dominic Vergine leads the multidisciplinary team alongside chief technology officer Jaroslaw Rzepecki. The business has already signed nondisclosure agreements with several major original equipment manufacturers as it focuses initial deployment on the electric vehicle sector.
From the founder
"We’re extremely excited to be entering this next phase of our business journey. At Monumo, we are driven by a desire to create a sustainable future and we know that the EV market is a crucial entry point for our technology. By partnering with OEMs and tier one engineering companies, our unique combination of simulation, ML, AI and motor design ability can facilitate genuine near-term impact in the EV industry. These incredible results from our motor simulations are just the start as we look to create genuine system level optimisation for the first time. Naturally we’re excited about the company’s next phase of growth."
Dominic Vergine
CEO and Founder at Monumo