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UK startup PhysicsX completes $300 million funding round

MarsBitNews
UK startup PhysicsX raised $300 million in its latest round of funding, with the company valued at approximately $2.4 billion. Temasek of Singapore led the investment, and early backers such as NVIDIA and Applied Materials continued to participate. The company provides an AI model that can predict the behavior of physical objects, helping aerospace and automotive companies make their design, testing, and assembly processes more efficient. The company said that, due to a backlog of customer demand of about six months, PhysicsX needs to expand its team and therefore requires more funding. The company expects its revenue this year to be “close to $50 million.” (Sina Finance)
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