PhysicsX Raises €117.3 Million to Revolutionize Engineering with AI Solutions

British AI startup PhysicsX has raised €117.3 million in Series B funding to expand its AI-native engineering and manufacturing solutions. The round was led by Atomico, with key participation from Siemens and others. Founded in 2023, PhysicsX aims to tackle industry challenges with innovative software for advanced manufacturing sectors, emphasizing the urgent need for transformation in engineering practices.

PhysicsX, a London-based AI startup, has successfully raised €117.3 million in its Series B funding round. This capital is aimed at accelerating industrial innovation and expanding the global reach of its software platform, which finds applications in aerospace, automotive, semiconductors, materials, and energy sectors. Led by Atomico, the round also saw participation from big names like Siemens and Applied Materials, alongside ongoing support from previous backers like General Catalyst and NGP.

Jacomo Corbo, CEO and Co-founder of PhysicsX, highlighted the significance of this investment, stating, “This round reflects the importance and the needs of the industries that we’re building into.” He emphasized that the evolving landscape of global manufacturing is being reshaped by pressing innovation needs within these crucial fields. Corbo pointed out the necessity of addressing mounting challenges around supply chain resilience and technological advancements in engineering today.

Founded in 2023 by veterans of the automotive and AI sectors, including Robin Tuluie and Jacomo Corbo, PhysicsX is poised to push the boundaries of traditional engineering through deep AI integration across the entire engineering lifecycle. Their mission focuses on equipping advanced manufacturing sectors with cutting-edge tools to tackle significant industry challenges more swiftly.

The company has garnered partnerships with leaders from various industries, effectively aiding them in navigating some of their most intricate challenges. According to Laura Connell, a Partner at Atomico, “PhysicsX is unlocking a new engineering paradigm.” She stressed how the startup’s innovations not only accelerate design cycles but also empower engineers to tackle challenges that were previously insurmountable.

The urgency for innovation in advanced manufacturing is palpable. These industries are crucial for economic stability and sustainability, now more than ever facing a landscape ripe with resource and skill limitations. PhysicsX aims to address these obstacles by introducing AI-native engineering solutions designed to alleviate key burdens like lengthy timelines, performance issues, and waste.

Paul Kwan from General Catalyst remarked on the potential of PhysicsX’s platform, noting it provides engineers with groundbreaking capabilities. With a growing team of over 150 members and a significant revenue surge since their last funding, PhysicsX is primed not just for expansion but for a transformative leap in developing sophisticated physics foundation models.

Peter Koerte, from Siemens’ Managing Board, commented on the promising collaboration, saying, “The convergence of industrial expertise and AI capabilities is unleashing extraordinary potential to revolutionise how we design, simulate, and manufacture.” He articulated Siemens’ commitment to fostering innovations that create real-world impacts through industrial-grade AI.

As PhysicsX continues to solidify its presence in the industry, it remains dedicated to reshaping manufacturing’s future while leveraging Europe’s strengths in industrial applications and AI talent. This represents a crucial evolutionary step for engineering and manufacturing at large, where reliability and performance remain non-negotiable.

The trajectory of PhysicsX illustrates not only their growth but also an essential shift in how businesses approach engineering challenges, striving for solutions that are not just smarter, but fundamentally transformative.

In summary, PhysicsX has successfully harnessed significant investment to drive innovation in industrial engineering. With their AI-native software solutions, they aim to tackle some of the most complex challenges in the manufacturing realm. Led by experienced founders and backed by prominent investors, this startup is positioned to revolutionize the engineering landscape and elevate efficiency in critical industries.

Original Source: www.eu-startups.com