Fundraising Fox

Toffeex

Entrepreneur First '20

London, GB · Founded 2020 · 9 known investors

ToffeeX develops physics-driven generative design software for engineers to create optimized designs for thermal and fluid components such as heat sinks, cold plates, manifolds, and cooling systems. Its tools are used on engineering projects for organizations including Airbus, Ricoh, and CERN.

Also known as Toffee · TOffeeAM

Founders & leadership

Toffeex was founded in 2020 by Marco Pietropaoli and Francesco Montomoli.

MPMarco Pietropaoli
Marco PietropaoliinCo-founder · Chief Executive OfficerMarco Pietropaoli completed a PhD in fluid dynamics at Imperial College London and stayed on as an EPSRC Doctoral Prize Fellow, following a Master's in applied mathematics from Sapienza Università di Roma. His background includes building AI software for additive manufacturing, collaboration with NASA Langley Research Center, and an MBA from the Quantic School of Business and Technology.
FMFrancesco Montomoli
Francesco MontomoliinCo-Founder, Chief Scientific Officer2023–2025Francesco Montomoli is a professor of computational aerodynamics at Imperial College London and a Royal Academy of Engineering Enterprise Fellow, holding a PhD in energy engineering and a Master's in mechanical engineering from the Università degli Studi di Firenze, plus study in management of technology and innovation at Cambridge. A recognized specialist in uncertainty quantification, he has worked with organizations such as Rolls-Royce, NASA, Airbus and Criepi.

Investors · 9

Also in the syndicate · 6

Brijesh RoyEd StaceyleadExcellisExor SeedRory Scott RussellleadRoyal Academy of Engineering

Company profile

researched Aug 2026

ToffeeX develops physics-driven generative design software for engineering teams working on thermo-fluid components, including heat sinks, cold plates, manifolds, heat exchangers, fuel cells, battery cooling systems and other cooling systems. Rather than having engineers sketch geometry and then refine it through repeated CAD and CFD loops, the software uses Navier–Stokes and heat transfer equations together with topology optimization to generate geometry directly from stated physics objectives, boundary conditions and constraints. The stated workflow is three steps: define the design domain, boundary conditions and goals; generate optimized designs while exploring performance trade-offs; and export design files ready for import into the user's existing workflow.

The product supports multi-objective optimization, allowing engineers to target reduced pressure losses and increased thermal performance simultaneously, and includes design-for-manufacture controls for additive manufacturing, machining/CNC, stamping and chemical etching. According to a third-party profile, the flagship product is called Toffee and is a cloud-native platform running on AWS; the same source states the company was previously named TOffeeAM, with an original focus on additive manufacturing before broadening to generative design. The company positions the output as geometry that engineers would not draw from a blank CAD screen, aiming for lower pressure drop, higher heat transfer and more uniform temperature under real operating constraints.

Customer-facing material cites case studies from projects with Airbus, Ricoh and CERN, and includes testimonials from users at Fraunhofer IWU (cold plate design for radar cooling using additive manufacturing) and from a PhD candidate working on regenerative cooling for rocket engines, along with heat exchanger and heat sink applications.

Founding story

According to a third-party profile, ToffeeX was founded in 2019 by Audrey Gaymann, Marco Pietropaoli and Francesco Montomoli, who identified a need for engineering design tools in which complex physical simulation directly guides geometry generation. The same source describes the company as emerging from the gap between proof-of-concept machine learning and production-ready engineering tools, and as having been incubated by Entrepreneurs First. Note that this founding year differs from other records.

Business model

ToffeeX sells engineering design software to corporate engineering teams; the website directs prospects to request a demo or talk to the sales team rather than offering self-service sign-up, and the product is described by a third-party profile as a cloud-native platform hosted on AWS.

Traction

Public evidence of traction consists of named customer and project references (Airbus, Ricoh, CERN, Fraunhofer IWU, and per a third-party profile Rolls-Royce, Boeing and Leonardo), customer testimonials describing reduced design cycles and smaller or more efficient heat exchangers, heat sinks and cold plates, $7.3M raised across two rounds, and awards including the 2022 Software Awards and the 2024 ATI Hub Breakthrough Award. No revenue or customer-count figures are disclosed in the sources.

Latest developments

A third-party profile records a 2024 Aerospace Technology Institute Hub Breakthrough Award and continued work with aerospace partners on electrification, hydrogen propulsion and Net Zero 2050 programmes. The company website advertises open positions and a product newsletter covering new features such as patterning.

Full profile — market position, technology, go-to-market, geography, history, risks & controversies

Market position

A third-party profile places ToffeeX within the generative design and digital twin segment of industrial software, serving aerospace, automotive, energy and industrial equipment, and names Imagars and Front End Analytics as comparable providers. The company's own positioning contrasts its approach with conventional CAD plus CFD iteration and with design-for-additive-manufacturing tools, claiming design turnaround in hours rather than days or weeks and no requirement for application-specific expertise.

The company differentiates on generating geometry directly from physics rather than simulating geometry that engineers have already conceived, on producing manufacturable, CAD-ready outputs in hours instead of weeks of manual iteration, on multi-objective optimization across thermal and fluid targets simultaneously, and on built-in manufacturing constraints for several production processes so that no specialist design-for-additive-manufacturing expertise is required.

Technology

The software combines physics simulation (Navier–Stokes and heat transfer equations) with topology optimization and generative algorithms to synthesize component geometry from user-defined domains, boundary conditions and objectives. It supports multi-objective optimization across competing goals such as pressure loss and thermal performance, and encodes manufacturing constraints for additive manufacturing, machining, stamping and chemical etching so that generated parts remain producible. Outputs are exportable design files intended to drop into existing engineering workflows. A third-party profile describes the platform as cloud-native on AWS.

Go-to-market

Direct enterprise sales supported by demo requests, published case studies, a technical newsletter, and collaboration on funded research and industry programmes; a third-party profile references participation in Innovate UK initiatives such as Project Hyfan and partnerships with large aerospace manufacturers.

Engineers, designers and analysts responsible for high-performance thermal management and thermo-fluid components, in sectors including aerospace, automotive, energy and industrial equipment. Referenced users and project partners include Airbus, Ricoh, CERN, Fraunhofer IWU and, per a third-party profile, Rolls-Royce, Boeing and Leonardo.

Geography

Headquartered in London, United Kingdom; a third-party profile gives an address at 503, 60 Gray's Inn Rd, London WC1X 8LU. Customer and partner references span the UK, Germany (Fraunhofer IWU) and Japan-linked engineering teams, and the software is described as cloud-based and accessible worldwide.

History

A third-party profile states ToffeeX was founded in 2019 in London and was incubated by Entrepreneurs First, and that it previously operated under the name TOffeeAM with a focus on additive manufacturing before broadening into a general generative design platform. It raised a $1.3M seed round in July 2020 and a $6M Series A in November 2022. The same source notes early traction through Innovate UK initiatives such as Project Hyfan, addressing thermal management for hydrogen aircraft, and a 2024 Aerospace Technology Institute Hub Breakthrough Award. The company's own about page shows a leadership team headed by CEO and co-founder Marco Pietropaoli alongside heads of sales, engineering, customer success, innovation and technology; parts of that page contain unfinished placeholder text.

Risks & controversies

Available sources are limited and partly inconsistent: a third-party aggregator lists a 2019 founding date and three founders, differing from other records, reports employee count as 1001-5000 which is implausible for a company of this funding stage, and cites both $7.3M and $6.99M as total raised. The company's own about page contains unfinished placeholder text (including Lorem Ipsum and repeated award entries), and no revenue, customer count or independently verified performance figures are available.

Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Funding rounds countNov 2022$2
Total fundingNov 2022$7.3M

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Timeline · 4

launches, deals, and filings
Jan 2024
Aerospace Technology Institute Hub Breakthrough Award

ToffeeX received the 2024 Aerospace Technology Institute (ATI) Hub Breakthrough Award.

source ↗

Nov 2022
$6M Series A

Series A led by Rory Scott Russell and Presidio Ventures, with Excellis, IQ Capital, Exor Seed and Type One Ventures participating.

$6M source ↗

Jan 2022
Winner of the 2022 Software Awards

ToffeeX lists the 2022 Software Awards among its awards and recognition.

source ↗

Jul 2020
$1.3M seed round

Seed round led by Ed Stacey, with Brijesh Roy and the Royal Academy of Engineering participating.

$1.3M source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

Companies House · registry record

View on Companies House ↗
Registered name
TOFFEEX LIMITED
Company number
11886947
Status
Active
Company type
Private limited company
Incorporated
18 Mar 2019
Registered office
125 Wood Street, London, EC2V 7AW
Nature of business (SIC)
72190 — Other research and experimental development on natural sciences and engineering
Previous names
TOFFEEAM LIMITED (20192023)
Accounts
last made up to 31 Mar 2026 · next due 31 Dec 2027
Confirmation statement
last made up to 17 Mar 2026 · next due 31 Mar 2027

Current officers · 3

  • Richard Crosfield director, appointed 1 Aug 2022
  • Marco Pietropaoli director, appointed 18 Mar 2019
  • Iq Capital Directors Nominees Ltd corporate director, appointed 9 Jul 2020

Source: Companies House public register · retrieved 23 Aug 2026. Contains public sector information licensed under the Open Government Licence v3.0.

Research sources · 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Toffeex do?
ToffeeX makes cloud-based, physics-driven generative design software for thermo-fluid components such as heat sinks and cold plates.
Who founded Toffeex?
Toffeex was founded by Marco Pietropaoli, Francesco Montomoli in 2020.
Who are Toffeex's investors?
Toffeex's investors include Entrepreneur First, Excellis Holding, IQ Capital.
Where is Toffeex headquartered?
Toffeex is headquartered in London, GB.