Monumo Secures £750,000 Funding from Innovate UK for Electric Drive Innovation

UK deeptech startup Monumo, which is innovating in the electric drive unit space, has recently secured £750,000 in funding from Innovate UK, a division of UK Research and Innovation (UKRI). This funding will support the development of Monumo’s 3D Generative-AI Technology (3D-GAIT), which aims to automate the processes of design generation, simulation, and evaluation.

To enhance this groundbreaking initiative, Monumo is collaborating with the University of Nottingham's Power Electronics, Machines and Control (PEMC) Research Group, along with industry experts from Hofer Powertrain UK. This collaboration is critical for addressing a significant market need for optimizing the motor design process, which is essential as the demand for electric vehicles (EVs) continues to grow.

Having recently emerged from stealth mode, Monumo closed a £10.5 million seed funding round from angel investors, underscoring the confidence that investors have in the company’s vision. The company, based in Cambridge and Coventry, comprises a talented team of 28 professionals from diverse disciplines, including automotive engineering, data science, physics, deeptech expertise, and entrepreneurship. This multidisciplinary approach positions Monumo strongly as it focuses on the electric vehicle market, which is ripe for innovation.

Dominic Vergine, CEO and founder of Monumo, views the funding from Innovate UK as a testament to the team’s dedication and hard work in applying advanced deeptech methods to the redesign of electric drive units. He stated, “Driven by a desire to move the needle on decarbonisation, our technology has numerous applications, but we are focused on the EV market initially, seeking to drive wider adoption through optimisation. We are intent on helping build a more sustainable future, and this funding from Innovate UK will help us get there faster.”

An assessor from Innovate UK commented on Monumo's proposal, noting its potential to revolutionize electric motor design through 3D-GAIT. The project promises transformative impacts on the industry, addressing essential market needs and enhancing productivity while aligning with the UK’s green agenda. The assessor highlighted the well-structured plan, robust team, and clear value proposition, suggesting that with Innovate UK's support, Monumo is well-positioned for substantial success that could contribute to economic growth, job creation, and technological advancement.

Monumo plans to utilize the grant to expedite its progress, building on its proprietary technology, which already achieves motor designs at a speed 200 times faster than the industry standard. This significant acceleration is made possible through tightly integrated and continuously updating AI algorithms that inform the motor system simulation pipeline. This continuous co-design process not only enhances the performance of the AI tools but also refines the simulator's requirements, ensuring optimal results.

The implications of Monumo’s technology are substantial; it has the potential to dramatically enhance productivity for original equipment manufacturers (OEMs), Tier 1 suppliers, and their design teams by unlocking new design freedoms within electric drive units that traditional development methods have yet to explore. Monumo's innovative approach may redefine how electric drive systems are designed and produced, further propelling the EV industry toward a more sustainable future.

In conclusion, Monumo's pioneering efforts in electric drive unit redesign, bolstered by its recent funding and strategic partnerships, signify a promising advancement in the electrification of transportation and the broader goal of decarbonization. The startup's commitment to innovation and sustainability positions it as a key player in the evolution of electric vehicle technology.