Published: July 30, 2026 at 12:30 pm
The British Business Bank contributed £19 million to a £225m Series C round which valued PhysicsX at £1.8 billion.
The UK company is developing and deploying its AI-native engineering platform to accelerate hardware innovation and drive engineering and manufacturing productivity in industrial organisations.
The firm is headquartered in the United Kingdom, with offices in London and New York, and an expanding presence in San Francisco’s Bay Area and Singapore.
The round was led by Temasek, with participation from new investors M&G Investments and Intrepid Growth Partners, alongside existing investors including Applied Materials, Atomico, General Catalyst, July Fund, NGP, NVIDIA, Radius and Siemens.
It also included the fourth investment made the British Business Bank’s British Growth Partnership Fund I since its £200m first close.
The BBB said M&G Investments’ contribution demonstrated how the British Growth Partnership’s co-investment model can bring additional pension fund capital into UK venture. Pension funds can increase exposure to fast-growing UK companies while businesses can tap into large pools of domestic institutional capital, it said.