London-based AI startup PhysicsX has raised $300m in a funding round led by Singaporean sovereign wealth fund Temasek, more than doubling the company’s valuation to $2.4bn in less than a year.
Founded in 2019 by former Formula 1 engineers Jacomo Corbo and Robin Tuluie, PhysicsX builds AI tools to help manufacturers design and optimise products, including engine components, drones and industrial equipment.
The new valuation places PhysicsX among the UK’s most valuable AI startups, behind companies such as ElevenLabs and Ineffable Intelligence. The company recently placed second in the inaugural Sifted AI 100, a ranking of the sector’s most promising startups in Europe.
The funding comes amid growing demand from industries supporting the global AI boom, particularly the infrastructure required to build and operate data centres. PhysicsX says its technology is increasingly being used to improve the design and performance of critical hardware across industrial supply chains.
“Right now, candidly, we are very supply-side limited,” CEO Corbo told the Financial Times, adding that the company is having to moderate its rollout to existing customers because of strong demand.
Corbo said sectors linked to data-centre construction — including gas turbines, compressors and cooling systems — represent major growth opportunities for the business. He added that semiconductors are expected to become PhysicsX’s largest industry segment this year.
The fresh capital will support further expansion in the US and help the company establish a new office in Singapore. PhysicsX has grown rapidly over the past year, increasing headcount from 150 to 350 employees.
Despite its international ambitions, Corbo said the company would remain headquartered in London, describing the city as a “wonderful place” to build a global business.
