Michael Black joins Monumo as CFO

Michael has played a critical CFO role in various tech companies for the past 20 years in and around the Cambridge Tech cluster. He brings a wealth of experience from multiple sectors including automotive, battery technology, AI, material science and healthcare.

Michael joins the company at a critical stage as it prepares to launch its Series A fundraise. As well as fundraising from both private and public markets, Michael brings valuable IPO and M&A experience, as well as a proven track record of helping start-up companies scale, taking groundbreaking technology from early stage to world-changing commercial adoption. Upon his appointment, Michael commented, “Monumo is harnessing the potential of AI technology to radically improve electric motor design, to make a significant contribution to global de-carbonisation. This makes it a hugely exciting company to join.”

Dominic Vergine, Monumo’s CEO, said ”Michael strengthens and completes our leadership team, ready for our next stage of growth. We have strong customer interest which will convert to multiple contracts in 2025 and Monumo will need to be expanding into new markets and territories. Michael will play a key role in helping to ensure that we grow successfully.”

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About Monumo

Monumo couples deeptech innovation and machine learning with traditional engineering expertise to change the fundamental principles of electric motor design. Monumo’s proprietary technology runs more than ten million simulations per day to enable the design and development of the best electric motors - unhindered by human preconceptions and bias rooted in the long history of motor design.

The Cambridge and Coventry-based business has a mission to significantly move the needle on decarbonisation and is initially focused on the global EV market, which is projected to reach $623bn in 2024. Monumo’s technology ensures new motor designs are cost-effective, efficient and optimised sustainably e.g. removing the rare earth magnets found in 80% of EV motors.

Through its end-to-end solution, the business has the potential to design and licence electric motors that facilitate true competitive advantage for Original Equipment Manufacturers (OEMs) and Tier 1 engineering companies. To date, the business has raised £10.5m in seed funding from angel investors.