Monumo reaches critical tipping point in AI ROI
Monumo, the deeptech company coupling AI and machine learning (ML) with traditional engineering expertise to redesign the electric motor, has announced a significant commercial breakthrough, successfully delivering for multiple international companies. This progress signals a critical tipping point for the company, as its technology has now been proven to deliver superior, low-cost motor designs in record time.
Monumo's technology, the Anser Engine, can create large numbers of detailed motor designs that have been optimised at a system level, within just a few days. This is beyond the capability of any other commercially available process available today and gives partners a unique competitive advantage in agility, product performance and cost-reduction. In one recent project Monumo evaluated around 3,000,000 designs in just three days. This technological advancement in AI and ML is driving interest from a growing roster of global clients, including multiple top automotive players across Europe and Asia.
In another project, the Anser Engine has revealed up to a 17% cost reduction over the customer’s original electric motor design, enabling savings of up to €70 per motor. McKinsey currently predicts that the ten largest automotive OEMs will require 120 new eMotor designs across new EV platforms in the next decade, with total lifetime volumes projected to reach 190 million units, demonstrating significant potential industry cost savings.
“A year ago, we were proving the commercial viability of our technology," says Dominic Vergine, CEO and Co-Founder at Monumo. "Today, we are delivering quantifiable value and a clear ROI with one contract moving from a pilot to a multi-million dollar, multi-year engagement in just 10 months. What started with electric motors for EVs is quickly expanding to other industries like energy generation, white goods, aerospace and additive manufacturing. This success proves the breadth and power of our Anser Engine technology.
“We've achieved product-market fit well ahead of schedule, our first two major customers have both expressed an interest in investing at the next round and we are now in active discussions with venture capital funds that recognise the immense value and scalability of our technology.”
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