TOffeeAM raises £1m in seed funding led by IQ Capital to expand its engineering team
The Imperial College spin-out has secured seed backing led by IQ Capital to scale its team and customer base.
TOffeeAM develops artificial intelligence software to design advanced engineering components and systems. The technology replicates and accelerates human engineering creativity to help industries improve performance and lower emissions.
TOffeeAM has secured £1m in seed financing to expand its engineering team and grow its customer base. The investment round was led by IQ Capital, with participation from the Royal Academy of Engineering and Imperial College London's Techcelerate programme.
The London-based business was spun out of Imperial College London in 2019, commercialising software that optimises component and system designs for 3D printing. Its technology is currently utilised by industrial clients including GE Aviation, Baker Hughes and a Formula 1 motor racing team.
The fresh capital will be directed towards hiring additional engineers and scaling operations to meet rising commercial demand. The company previously received pre-seed backing from Entrepreneur First.
From the founder
"We are delighted to receive this funding from our investor partners – it’s a fantastic indication of their faith in the commercial applications of our technology. This funding will give TOffeeAM the opportunity to continue our success at speeding up 3D printing across all industries by up to 20 times faster and to expand our team with expert engineers and other team members, and continue to scale the solution to serve our rapidly expanding customer base. We are at the beginning of an exciting journey, and this funding will help drive our growth and the wider use of this transformative technology across a variety of industries."
Francesco Montomoli
CEO at TOffeeAM
Investor perspective
"The TOffeeAM team has already achieved an enormous amount with their software, which is advancing the developing field of AM, and we are proud to support Francesco and his expert team. This funding will allow the team to further commercialise their technology with additional staff, particularly the engineers which will drive forward the innovation at the heart of this company. With the intelligent software the team has developed and the strong deep tech expertise of the team, the sky is the limit in terms of TOffeeAM’s capabilities, and I’m looking forward to seeing the role they can play in the field of smart industrial production."
Ed Stacey
managing partner, IQ Capital
Use of funds
- 01Grow the team
- 02Accelerate go-to-market
