AI startup reinventing the electric motor raises £10m

The company's patented technology has led to the development of a deeptech-engineered design for a switched reluctance motor (SRM) that achieves a 50% reduction in torque ripple throughout the drive cycle, resulting in a motor that operates more smoothly and quietly. This innovative approach to SRMs, incorporating simulation, optimisation, and prototyping, signals the potential for broader adoption in various segments of the electric motors market.

Established in 2021 with bases in Cambridge and Coventry, Monumo is committed to advancing decarbonisation, initially targeting the global electric vehicle (EV) market anticipated to value at $623bn by 2024. Utilising a unique blend of AI, machine learning (ML), and motor design expertise, Monumo's proprietary technology performs approximately 10 million simulations daily to explore different motor design iterations. This process enables the identification of optimal configurations tailored to specific requirements, whether aimed at reducing costs, enhancing efficiency, or boosting sustainability.

Monumo has successfully secured a £10.5m seed funding round from angel investors and has entered into non-disclosure agreements with several leading engineering firms and Original Equipment Manufacturers (OEMs). The company's leadership includes CEO and Founder Dominic Vergine, an experienced entrepreneur and former VP of Sustainability at Arm, and CTO Jaroslaw Rzepecki, PhD, with a background in software engineering at Siemens, Microsoft Research, and Arm. The team at Monumo, comprising 30 professionals from various disciplines, includes automotive engineers, data scientists, physicists, deeptech specialists, and entrepreneurs, with half holding PhDs in physics, electronics, ML, computer science, and engineering.

Dominic Vergine, CEO and Founder at Monumo, 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.”

Santiago Matheus, Managing Partner, and Founder at LQD VC, said: “Our contemporary lives are built on an almost unimaginable pyramid of inventions, all of which were thought of as impossible before they became essential. I believe that in short order, Monumo will show the world that the impossible efficiencies they promise are not only possible, but of fundamental importance to how much impact we have on the planet. It’s hard to overstate the role we anticipate this unique combination of technologies will have in the future of engineering disciplines and beyond.”