A new developer of additive manufacturing design software, TOffeeAM, has raised £1 million in seed funding, which will enable it to expand its team and increase its engineering capabilities. UK-based TOffeeAM was founded in 2019 as a spin-out of Imperial College London and has brought to market a highly automated AM design platform with applications in the aeronautics and automotive industries, among others.
The £1 million investment round was led by IQ Capital, and saw participation from the Royal Academy of Engineering and Imperial College London’s Techcelerate program. The money will enable the young software company to hire more engineers and staff and thus expand its engineering capabilities. With the seed funding, TOffeeAM also plans to grow its customer base, which already includes GE Aviation, Baker Hughes and a Formula 1 team.
“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,” said Francesco Montomoli, CEO and Founder of TOffeeAM. “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.”
TOffeeAM was founded in 2019 by Montomoli, Marco Pietropaoli (COO) and Audrey Gaymann (CTO), who spent four years at Imperial College developing the now market-ready software product. The platform, TOffee, is now available for licensing and gives AM users access to advanced design capabilities, such as creating crucial structures for optimized coolant systems for gas turbines. Notably, the software is capable of not only optimizing 3D printed components, but also entire systems through part consolidation.
“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,” said Ed Stacey, Managing Partner of IQ Capital. “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.”
Brijesh Roy, Seed Investment Manager at Imperial College London, said: “TOffeeAM’s success to date is a source of great pride for Imperial, and we’re pleased to see the company reach this latest milestone. 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 startup emerge from our entrepreneurial ecosystem.”
Though new to the AM market, TOffeeAM has already gained some attention, winning a variety of awards. Its topology optimization software is reportedly up to 40% more efficient than competing platforms and has the ability to produce parts 20 times faster.