3D printing software startup used by Boeing raises £5m

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London-based 3D printing software startup TOffeeAM has raised £5m in a Series A funding round to grow the business globally, with a focus on the American and Asian markets.

Founded in 2019 as a spin-out from Imperial College London, TOffeeAM develops software used by engineering companies – including Boeing and Rolls-Royce – to design fuel-efficient machines that have reduced pollution from the CO2.

The company claims its automated software can design machine components, made via additive manufacturing, with “human” levels of creativity. TOffeeAM designs can also incorporate sustainable fuels.

“We are delighted to have received this investment from our financial partners,” said TOffeeAM CEO Francesco Montomoli.

“This funding will give TOffeeAM the opportunity to expand globally and continue to help companies across many industries build innovative products.”

The funding round was led by Presidio Ventures and East Innovate. The round also featured participation from IQ Capital, Exor Seed, Type One Ventures and Excellis.

“Finding solutions to help businesses across all sectors achieve net zero is vital if we are to protect our planet for future generations,” said Rory Scott Russell of East Innovate.

TOffeeAM’s previous funding round was in July 2020, when the company raised £1m in a round led by IQ Capital.

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