10 Newest AI Startups Across England And Wales
The new industry of Artificial Intelligence (AI) or also called Machine Learning could provide a new global economic business worth roughly $13 trillion by 2030. At which point around 70 per cent of organizations will have chosen at least one form of AI, as per a report by McKinsey Global Institute.
The United Kingdom AI Startups tech industry is perfectly poised to ride this wave. In 2017, London increased more than twice the amount of money to finance digital firms than any other town in Europe.
Provided that the UK is home to eight of the top 20 European universities and 40 per cent of Europe’s technology companies already live here, it is no surprise that many AI Startups would want to be here.
AI venture capital company Asgard concludes that the nation’s ecosystem of AI startups is the biggest in Europe, while London has over three times as many as any other town in the EU continent.
British AI startups picked up by the largest technology companies in the world also, starting in 2014 when Google acquired DeepMind for reported £400 million.
This was followed by Apple’s acquisition of organic language processing (NLP) experts VocalIQ, Microsoft’s acquisition of Twitter’s purchase of Entrepreneur First alumni Magic Pony, and machine learning-powered keyboard SwiftKey.
Top 10 Machine Learning (AI) Start-Ups In The UK
Here are ten impressive AI startups operating in the Region of AI in the UK presently. Could the next big acquisition be among them?
Distributed is an on-demand workforce platform that helps businesses focused on delivering electronic results faster and to a higher standard. Constructed in 2017 and now in beta, the platform uses machine learning to connect businesses with what it calls ‘Elastic Teams’ workforce in waiting to finish digital tasks without needing to scale your internal staff.
It increased a £1.5 million financing round from Fuel Ventures in February 2019, with plans to grow its group sixfold at the end of the year and make the platform more public.
SenSat assembles digital representations of physical settings, where AI models can be issued to help understand the parameters of the environment and provide valuable feedback. The one-line mission statement is: “to teach computers how to understand the physical world all of us live in.”
For example, among the organization’s early customers is a large UK construction company specializing in road construction projects.
The SenSat AI team includes co-founders James Dean and Harry Atkinson and provides everything from astrophysicists to a CTO in Alvin Chua using a Ph.D. in Condensed Matter Theory and BSc (Hons) in Theoretical Physics from Imperial College London.
SenSat has raised £3.4 million in seed funding to date, from angel investors, Swiss family office Pubal Consult and VC companies including Round Hill Venture Partners, Force over Mass, and Zag (the venture arm of international creative agency BBH).
Founded by Tabitha Goldstaub and Charlie Muirhead, CognitionX is a platform developed to connect corporations with particular queries to the kind of AI specialists who might have the ability to solve them.
It’s mostly an advice marketplace targeting the developing field of AI and machine learning, which the duo built after struggling to get the best data science abilities as they started Rightster, a movie rights network now called Brave Bison.
The basic version of the product is entirely free, but experts can use their information as lead generation, while an enterprise model that produces a custom-built internal pro network for customers can be obtained as a paid-for subscription.
CognitionX increased $4.1 million (£3.2 million) of financing in 2018 from investors such as Unilever Ventures and the CXO Fund.
Phrasee uses AI to create marketing copy for clients such as The Times, SuperDry, and Domino’s. The AI startup business has developed a language formation algorithm that examines engagement from previous campaigns to manage the content in email subject lines, push notifications, and social networking ads.
The organization established in 2015 and lately raise $4 million (£3 million) in a series a funding cycle led Albion Capital, taking its total funding to $5.3 million (£4.1 million). It closed its third financial year with a profitable quarter and 280 per cent earnings growth. The creators now plan to start in the USA.
Deputi is leveraging AI to help companies minimize the costs of daily operational tasks using automation.
Currently in beta, since the launch in 2018, the platform provides a smart corporate memory that permits users to upload. Extract files with intelligent reminders, which will be used to monitor and manage regular activities automatically.
Deputi is available on desktop and mobile, with assistance towards investment and portfolio management.
JukeDeck is a harmonious AI company, which is leveraging algorithms to make unique tunes from scratch. The corporation’s primary clients are budget movie makers or Youtubers searching for royalty-free music to play in the background.
However, they are also currently working on a package of AI tools to assist support musicians in music production.
The London based AI startup was set in 2014 by two Cambridge alumni (one is a previous Googler). May be unsurprising – musicians, Patrick Stobbs, and Ed Newton-Rex.
In 2015, the organization received a £2 million investment from Cambridge Innovation Capital. They have also won competitions such as TechCrunch Disrupt London in 2015. An Innovation Lion award by the Cannes Lions International Festival of Creativity in 2016.
FiveAI is extending its autonomous driving system that it intends to utilize in a fleet of self-driving vehicles, pitting itself against the likes of Uber and Alphabet. It’s established in Cambridge but spread to a range of locations throughout the United Kingdom.
CEO Stan Boland founded three startups that obtained by Huawei, Broadcom and NVIDIA, respectively, for more than one billion dollars combined.
Two funding rounds have raised over £26 million so far.
Pointr blends AI with augmented reality to offer navigation, monitoring, and adjustment services to great places such as King’s Cross Station, Harrods, and Gatwick Airport.
The AI startup business installs Bluetook beacons about buildings and processes the signals together with other phone sensors. To understand the position and orientation of clients without requiring an online connection. It can then provide messages and directions based on their location concerning the environment.
In August 2018, Pointr declared that it expected to increase up to £5 million by a Series. A funding round started by Livingbridge Growth.
LoopMe offers brand advertising, with its mobile video advertising platform using AI and mobile data to improve results for clients.
Launched in 2012, the platform is designed to improve mobile advertising for advertisers, publishers, and end-users. They claim to implement more engaging ad formats which enhance the end-user experience while providing better performance and outcomes.
Headquartered in London, LoopMe has offices throughout the world, including New York and Singapore.
In March 2017, the AI startup increased financing of $17 million from Impulse VC and Harbert European Growth Capital.
10. Vivacity Labs
Vivacity Labs is a metropolitan mobility AI startup. Which develops AI camera technology to provide data for smart cities and intelligent transport systems.
The startup, which was set up in 2015, place machine learning sensors throughout the United Kingdom. The sensors are created to determine road users and handle traffic to enhance the protection of driverless cars.
Vivacity Labs also started working on the UK’s first transport-based smart city in Milton Keynes in 2017.
It secured a £1.7 million award from Innovate UK for assistance towards the roll-out of its sensor network. Together with an investment of £1.6 Million from investors such as Tracsis and London Co-Investment Fund.