London’s AI startup PhysicsX raises €117.4M in Atomico-led round to reshape engineering and manufacturing

London-based PhysicsX, a deeptech startup building AI to power engineering, has secured $135M (nearly €117.43M) in Series B funding led by Atomico. With this round, the company has now raised a total funding of nearly $170M (nearly 147.68M).

The Series B round also saw participation from Temasek, Siemens, Applied Materials, and July Fund, along with continued support from existing investors including General Catalyst, NGP, Radius Capital, Standard Investments, and Allen & Co.

Peter Koerte, Member of the Managing Board, CTO, and Chief Strategy Officer at Siemens, says, “The convergence of industrial expertise and AI capabilities is unleashing extraordinary potential to revolutionise how we design, simulate, and manufacture. Our strategic investment in PhysicsX builds on our successful collaboration in developing AI-based deep physics simulations.”

Laura Connell, Partner at Atomico, adds, “PhysicsX is unlocking a new engineering paradigm. They’re not just shortening design cycles, lowering costs, and accelerating innovation: they’re empowering engineers to solve problems that were previously beyond human intuition.”

“By fusing frontier AI research with deep industrial expertise, the team is building transformative tools for the sectors that underpin the global economy.”

Transforming engineering with AI-native solutions

PhysicsX is building AI-native engineering software for industrial applications. It is building a new engineering software stack to deliver AI enablement across the entire engineering lifecycle.

The company’s platform aims to compress timelines, enhance performance, reduce waste, and unlock entirely new categories of machines and processes.

While AI has transformed many fields, its application to engineering and manufacturing has been limited until now. PhysicsX combines fast AI-driven physics inference with numerical simulation to accelerate development, reduce risk, and optimise product performance.

Jacomo Corbo, CEO & co-founder of PhysicsX, says, “This round reflects the importance and the needs of the industries that we’re building into. The tectonic plates of the whole global economy are being reshaped by industrial manufacturing. Geopolitical currents and the questions of sovereignty and supply chain resilience are most strongly felt here. At the same time, innovation within these fields has never been more urgent.”

“We’re building into that unmet need and bringing new software and AI capabilities to fundamentally overhaul what engineering looks like today and transform how hardware innovation is executed.”

The company’s technology is already embedded in workflows of some of the world’s most sophisticated engineering and manufacturing organisations.

Capital utilisation

PhysicsX will use the funds to accelerate global growth and industrial adoption of its enterprise software platform across aerospace, automotive, semiconductors, materials, and energy sectors.

The funding will be allocated toward aggressive global expansion and fast-tracking the development of larger, more powerful physics foundation models. PhysicsX has already scaled rapidly since its Series A in November 2023, growing to over 150 team members and more than quadrupling revenue over the last two years.

Brief about PhysicsX’s co-founders

PhysicsX’s co-founders bring experience from both high-performance motorsport and advanced AI development. Prior to PhysicsX, Robin Tuluie held senior roles at Mercedes F1 and Bentley Motors, while Jacomo Corbo co-founded QuantumBlack (now AI by McKinsey) and served as Chief Race Strategist at Renault F1.

This blend of experience in performance engineering and AI informs PhysicsX’s approach to solving industrial challenges.

The new funding follows PhysicsX’s $32M Series A round in November 2023, which was led by General Catalyst with participation from Standard Investments, NGP, Radius Capital, and KKR co-founder Henry Kravis, when the company emerged from stealth mode to address engineering challenges across multiple sectors.