Monumo Aims To Transform Global Electric Vehicle Market – Business Weekly

A Cambridge Cluster startup that has already attracted senior people from McLaren, Microsoft and Arm is looking to revolutionise the global electric vehicle market.

Monumo is an electromagnetic engineering business creating new tools and designs to help build a sustainable future. It has the potential to become one of the most influential technology businesses Cambridge has ever produced.

CEO and co-founder Dominic Vergine, formerly VP of Sustainability at Arm, said the company remained in stealth but he was able to reveal that its immediate focus was “on using DeepTech tools and engineering innovations to generate optimal motor designs in the electric vehicle market.”

Monumo’s mission is to improve how most of the world’s energy is used by optimising electric motors to their fundamental limits.

It examines real world problems and applies cutting edge technologies to achieve impact, combining advanced electronic and mechanical engineering expertise with the latest developments in machine learning, neural nets and Artificial Intelligence.

By common consensus Monumo’s approach represents one of the most radical developments in engineering for decades. 

The company has already raised just over £4 million from private investors, including the board, and will be raising further capital to scale the business within the next 12 months, Business Weekly understands.

Serial Cambridge-based entrepreneur Martin Frost, who masterminded massive global funding for surgical robotics pioneer CMR, is among the co-founders. There are strong links to product development business Plextek, where the business is based. 

Monumo was essentially incubated by the Plextek founders – Ian Murphy, who is CTO of Monumo, Colin Smithers and Tim Jackson.

One of Monumo’s non-executive directors is Steve Randle who was Frost’s first chair in CMR (then Cambridge Medical Robotics); Randle has a long history of innovation in the automotive world with his own company Randle Engineering, based in Warwick. 

Monumo is hiring in readiness for the next phase of growth and prides itself on providing benefits that enable its people “to recharge and find balance.”

Highlights for staff include a generous options package, 30 days annual leave, additional end-of-year company holidays, sabbaticals, regular hackathons and opportunities to volunteer for chosen charities as well as shared and progressive maternity and paternity leave.