London-based PhysicsX secures €29 million in series A round funding. The leader of this round was General Catalyst. Participating in the round were Standard Industries, NGP Energy, Radius Capital, and Henry Kravis, co-founder and co-executive chairman of KKR.
The funding will spur PhysicsX’s expansion in the areas of product delivery, fundamental research, and customer service. This will allow the business to excel as an engineering partner to its clients, strengthen its product engineering division, and grow its research division to create AI models and techniques.
As part of the round, businessman Jim Baum, an Executive in Residence at Netezza, Endeca, and PTC, has joined the board of the company and brings with him over 25 years of expertise in developing and overseeing cutting-edge technology companies. Additionally, Jeremy Palmer, a former senior partner at McKinsey and chairman and CEO of QuantumBlack, will join as chairman.
Larry Bohn, Managing Director, General Catalyst, said: “PhysicsX expands engineering boundaries in crucial sectors, led by a team deeply skilled in simulation engineering and machine learning. With credibility, customer relationships, and technical expertise, we believe PhysicsX is poised to transform engineering in complex industries. This aligns with our vision for industrial transformation and positions PhysicsX with the opportunity to create a category-defining company in advanced industries.”
Robin Tuluie, founder and co-CEO of PhysicsX, said: “Engineering design processes were transformed by numerical simulation and the availability of high-performance compute infrastructure. The move from numerical simulation to deep learning represents a similar leap and will unlock new levels of product performance and ways of practicing engineering itself. PhysicsX exists to help pioneer and enable that transformation, giving engineers and manufacturers superpowers in bringing new technologies to the real world.”
PhysicsX is developing AIs that significantly speed up accurate physics simulation, allow generative engineering solutions, greatly speed up some of the most time-consuming engineering processes, and increase accessibility to complex engineering across industries. PhysicsX has emerged from stealth to meet the needs of engineers across sectors.
Read also – Madrid-based Cüimo Secures €900k in Funding
Almost fifty simulation engineers, machine learning and software engineers, and data scientists with backgrounds in advance engineering, enterprise artificial intelligence, numerical physics, and Formula one are employed at PhysicsX, which was founded by Robin Tuluie and Jacomo Corbo.
The team has been assisting some of the largest and most advanced engineering and manufacturing companies in the world with their most pressing technical issues for the past three years.