Mindtrace Builds AI Solutions
Manchester-based startup Mindtrace secures £2.1million investment.
19:46 24 February 2021
Mindtrace, a Manchester-based start-up that specialises in deploying AI capabilities closer to human intelligence, has secured £2.1million funding.
The round, which was led by Skylake Capital, was participated by Mercia Asset Management and Bloc Ventures. It saw Marcos Battisti of Skylake Capital and Michael Dimelow of Bloc Ventures joining the company’s board of directors.
Hoon Chung, CEO of Mindtrace said: ” This novel technology enables a set of new possibilities that minimises the need for large amounts of labelled data and allows for faster learning and more intelligent AI that adapts to changing real-life conditions. We are excited to work with Skylake Capital and Bloc Ventures as our global partners for growth.”
Mindtrace, which was founded in 2017, is known for building innovative AI solutions designed to enhance end-product and service capabilities. It’s flagship technology, Brain-Sense, is now being used by businesses in generating new revenue opportunities and improving their operations efficiencies.
Marcos Battisti, General Partner at Skylake Capital, added: “Mindtrace is a true innovator in a rapidly emerging new market dynamic. The company has developed a platform offering a unique combination of capabilities which include few-shot learning and federated learning. These capabilities are crucial to the democratisation of AI. The solution is also a key technology to enable new AI capabilities at the edge.”