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British AI startup PhysicsX raises €117.3 million for a new era of AI-native engineering and manufacturing
- PhysicsX, a London-headquartered company, has raised €117.3 million in Series B financing to support its global growth and industrial adoption of its AI enterprise software platform across multiple industries.
- The funding round was led by Atomico, with participation from Temasek, Siemens, Applied Materials, and July Fund, among others, and support from existing investors.
- Co-founder Jacomo Corbo stated that the investment reflects the importance of industrial manufacturing, with PhysicsX aiming to revolutionize engineering and hardware innovation using AI capabilities.
- Founded in 2023, PhysicsX is led by industry experts Robin Tuluie and Jacomo Corbo, focusing on bringing AI enablement to the engineering lifecycle in industries like aerospace, automotive, semiconductors, materials, and energy.
- The company's main goal is to empower manufacturing organizations to solve complex challenges faster and more efficiently with advanced AI tools.
- PhysicsX collaborates with leading companies in critical industries, providing support for their most complex challenges using AI-driven solutions.
- Through their innovative software stack, PhysicsX aims to transform engineering processes, shorten design cycles, reduce costs, and accelerate innovation in industries vital to the global economy.
- The company believes that AI-native engineering software can address key challenges like compressing timelines, enhancing performance, and unlocking new technologies in hardware innovation.
- Having grown rapidly since its Series A funding, PhysicsX now has over 150 employees and has quadrupled revenue over the past two years.
- The latest investment of €117.3 million brings the total funding to nearly €147.7 million, allowing PhysicsX to expand globally and develop advanced physics foundation models.
- Siemens believes in the potential of PhysicsX to revolutionize industrial innovation through the convergence of industrial expertise and AI capabilities, aligning with Europe's industrial strength and AI talent pool.
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