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HomeFunding UK-based Monumo Secures £10.5Million in Seed Funding

[Funding alert] UK-based Monumo Secures £10.5Million in Seed Funding

UK-based Monumo secures £10.5million in seed funding. Unidentified angels and LQD VC were among the backers. The money will be used by the business to increase operations and development initiatives.

UK-based Monumo secures £10.5million in seed funding. Unidentified angels and LQD VC were among the backers. The money will be used by the business to increase operations and development initiatives.

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Under the direction of CTO Jaroslaw Rzepecki, PhD, and CEO and founder Dominic Vergine, Monumo redesigns electric motors by fusing deeptech innovation and machine learning with engineering know-how.

With the use of its proprietary technology, a deeptech-generated design for a switching reluctance motor (SRM*) has already been produced. This motor is now smoother and quieter due to a 50% reduction in torque ripple throughout the driving cycle. It may find greater use in a larger variety of electric motor applications.

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Numerous tier one engineering firms and Original Equipment Manufacturers (OEMs) have already signed NDAs with the organisation.

Dominic Vergine said: “We’re extremely excited to be entering this next phase of our business journey. At Monumo, we are driven by a desire to create a sustainable future and we know that the EV market is a crucial entry point for our technology. By partnering with OEMs and tier one engineering companies, our unique combination of simulation, ML, AI and motor design ability can facilitate genuine near-term impact in the EV industry. These incredible results from our motor simulations are just the start as we look to create genuine system level optimisation for the first time. Naturally we’re excited about the company’s next phase of growth.”

About Monumo

The goal of deeptech engineering startup Monumo is to develop the greatest electric motors available. The goal of guiding the globe towards a sustainable future gave rise to Monumo. Currently, half of the electricity used worldwide is consumed by electric motors.

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