TOffeeAM
TOffeeAM
Additive manufacturing design software start-up TOffeeAM has raised £1 million in seed funding as it looks to establish itself on the market.
The Imperial College London spin-out has procured investment from IQ Capital, Royal Academy of Engineering and the Imperial College’s Techcelerate programme. It will be leveraged to fund the further development of TOffeeAM’s engineering capabilities, expand its customer base and hire engineers and additional staff.
Though only founded in 2019, TOffeeAM has already been adopted by a Formula 1 racing team, GE Aviation and Baker Hughes. Suitable applications are said to include crucial structures, such as coolant systems for gas turbines, within the aeronautics and automotive sectors. The TOffeeAM platform has been designed to optimise parts like this by reducing the number of assembled components, increasing their resilience and enabling robust multiphysics optimisation for fluid and heat transfer.
Based on four years of research at Imperial College London, the software is now available for licensing, with the recently raised capital facilitating the growth of the company, its product offering and its user base.
“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,” commented Francesco Montomoli, TOffeeAM founder and CEO. “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 engineering 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.”
“TOffeeAM’s success to data is a source of great pride for Imperial, and we’re pleased to see the company reach this latest milestone,” added Brijesh Roy, Seed Investment Manager at Imperial College London. “The combination of technical innovation and customer understanding TOffeeAM has achieved since inception offers an outstanding example of the benefits of translating university research to industry. Imperial has supported TOffeeAM through a range of programmes and we are delighted to see this highly promising start-up emerge from our entrepreneurial ecosystem.”
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