PhysicsX, a London-based company developing AI-powered engineering software, announced a €117.3 million Series B funding round. The company's platform aims to accelerate industrial innovation across sectors including aerospace, defense, automotive, semiconductors, materials, and energy. The round was led by Atomico.
The global advanced manufacturing market is substantial and projected to experience significant growth in the coming years. The funding will support PhysicsX's global expansion and the development of its physics foundation models.
"This round reflects the importance and the needs of the industries that we’re building into," commented Jacomo Corbo, CEO & Co-founder of PhysicsX.
The company's software is designed to address challenges in advanced manufacturing, including compressing timelines, enhancing performance, reducing waste, and enabling new innovations. PhysicsX partners with major organizations in its target industries, assisting them with complex engineering challenges. The company's approach involves integrating frontier AI research with deep industrial expertise to create tools for software-defined engineering.
PhysicsX was co-founded in 2023 by Robin Tuluie and Jacomo Corbo. Since its Series A funding in November 2023, the company has grown its team to over 150 employees and more than quadrupled its revenue. The new investment brings PhysicsX's total funding to nearly €147.7 million.
Key competitors include ANSYS, which offers engineering simulation software, and Dassault Systèmes, known for its 3D design and engineering software. These companies also leverage advanced technologies to improve efficiency and innovation in various industries, though their approaches and specific applications may differ from PhysicsX's AI-focused platform.
Participating investors in the round included Temasek, Siemens, Applied Materials, and July Fund. Existing investors General Catalyst, NGP, Radius Capital, Standard Investments, and Allen & Co. also participated.
