Immense Simulations raises £3.62 million Series A Round co-led by Amadeus Capital Partners and Global Brain Corporation

Immense, today announced that it has secured $4.6m in Series A funding. The investment will aid the continued growth and development of its AI-driven ‘Simulation as a Service’ platform, which is disrupting traditional transportation modelling.

The Series A funding was co-led by global technology investor, Amadeus Capital Partners, one of Europe’s most active AI investors according to Pitchbook, and Global Brain Corporation, one of the largest Japanese technology venture capital investment firms. Further investment was made by 31 Ventures, part of the Mitsui Fudosan Group .

Led by an award-winning team, Immense was founded in 2016 as a spin-out from the UK government’s Catapultprogramme. The platform uses simulation and AI to revolutionise how transport stakeholders make decisions about the movement of people and goods. Immense provides highly-detailed, agent-based simulations of travellers, places and mobility systems that enable rapid operational understanding of how a city moves. It facilitates experimentation with service deployments when integrating new technology and business models to a transport system.

These enhanced decision-making capabilities, strategically and operationally, drive down costs and increase efficiencies for public authorities and mobility service providers. Simulation-based planning will help cities and autonomous vehicle operators manage the challenges of connected, shared and electrified transport. Immense has proven the transferability of these methods with early clients in the UK, EU and in North America.

Robin North, Immense Co-Founder and CEO, said, “Mobility is changing fast but transport decision-making is slow and expensive, based on poor data. Cities need to accommodate growth, improve resilience and serve an ageing population while improving accessibility, air quality and energy consumption. Operators are facing increasingly low margins and both market and technology disruption, and consumers are expecting an ever more seamless service. This is a large-scale system problem that requires digital transformation to integrate siloed assets and empower effective decision-making.

“Immense is challenging these outdated methods through our cutting-edge, cloud-hosted simulation platform. With the backing of investors such as Amadeus with expertise in the mobility software sector, and the international perspective of Global Brain, we can capture the growing market for intelligent transport solutions.”

Amelia Armour, Principal, Amadeus Capital Partners, said, ‘We’ve reached an inflexion point for transport technology, with machine learning and simulation software providing radical new opportunities for planners and providers. Anyone who’s driven home after a bank holiday weekend – with over 15 million cars and 70,000 incidents on the road – can see the potential benefit of the Immense platform. By testing and simulating traffic, public agencies can plan and manage road use more effectively, allowing them to mitigate delays and reduce travel time.”

Naoki Kamimaeda, Partner, of Global Brain Corporation, said ‘‘We have witnessed the concept of the “Smart City” become more mature and see huge potential in Immense Simulations to disrupt the existing solutions on the market and transform how the industry works on simulation-related projects. Smart transportation-related companies will definitely benefit from using Immense technologies and eventually it will make our society more efficient, comfortable and safe by reducing congestion and accidents and enhancing urban planning”

About Amadeus Capital Partners

Amadeus Capital Partners is a global technology investor. Since 1997, the firm has raised over $1bn for investment and used it to back more than 130 companies. With vast experience and a great network, Amadeus’ team of investors and entrepreneurs share a passion for the transformative power of technology. We invest in consumer services, financial technology, artificial intelligence, cyber security, medical technology, digital healthcare and digital media. Early stage investments we’ve made include rare disease treatment discovery platform Healx, massively parallel simulation platform Improbable; Graphcore, innovators in intelligent microprocessors, and speech recognition company VocalIQ (acquired by Apple). To learn more visit https://amadeuscapital.com and follow us on Twitter @AmadeusCapital.

About Global Brain Corporation

To contribute to stimulate the Japanese economy, Global Brain supports startups that tackle a range of problems and create innovation. Our professionals with high achievement and extensive experience discover excellent startups through our multiple global locations and provide growth support through hands-on. The total asset under management is more than US$1 billion, becoming the largest domestic independent venture capital firm. To learn more visit https://globalbrains.com/ .

You can find out more about Immense and our other latest news here

PROWLER.io completes £18.95 million Series B funding round at a $100m valuation

PROWLER.io completes funding round at $100m valuation
● British AI company successfully completes Series B funding round at a post-investment valuation of $100m. Backers, including Mandatum Life, Pearson, RB Capital, and Tencent, invested $24m.
● PROWLER.io’s generalised decision-making AI technology is being rolled out for deployment in financial services, logistics and education during 2019.
● This investment from a wide range of global and corporate strategic investors will accelerate the product development and application of VUKU, PROWLER.io’s decision-making platform built over the last three years.

Cambridge, UK, 20 May 2019 – PROWLER.io, the leading artificial intelligence platform for decision-making, has raised $24m from new and existing investors, valuing the company at $100m. The investors involved in the round include Amadeus Capital Partners, Atlantic Bridge, Cambridge Innovation Capital, Mandatum Life, Passion Capital, Pearson, RB Capital, SGInnovate, and Tencent.

These strategic partnerships and funds will be used to support PROWLER.io’s recent product expansion and growth, with the company continuing to expand into a wide range of industry verticals, including finance, logistics and education.

PROWLER.io continues to define the AI decision-making market, developing the world’s first technology that can help businesses and organisations make better decisions in processing dynamic, real-time data in complex and uncertain environments. PROWLER.io’s core platform, VUKU, is being applied to managing logistics decisions, allocating resources, and assisting financial decisions in asset management.

It is founded on a unique, integrated approach – combining branches of mathematics, engineering and economic theory. While traditional approaches to problem-solving often rely on machines learning from vast, historic data sets, PROWLER.io’s is data efficient, and learns in real-time. Based in Cambridge, one of the world’s leading centres of AI research, PROWLER.io has built a world-class team of mathematicians and engineers.

“This investment is a huge sign of confidence in our efforts to be at the forefront of how enterprises use machines,” commented Vishal Chatrath, CEO of PROWLER.io. “Having initially focused on developing our AI platform, we are excited to be expanding our product offering into new verticals, underscoring the flexibility and innovative nature of our core technology. We’re excited to be supporting global corporate and financial leaders like Mandatum Life, Pearson, RB Capital and Tencent with AI tools that enable people to make better decisions.”

Kishin RK, CEO of Singapore based RB Capital Group, said: “RB Capital has been making a number of strategic investments in cutting edge, transformational technologies that will revolutionise how we understand consumers in the business of real estate, hospitality and retail.

Implementation of the VUKU engine will ensure we lead efficiency, stay relevant and remain at the helm of emerging business and consumer trends.”

Dr Ling Ge, Chief European Representative at Tencent, said: “The UK is a global leader in AI and is increasingly becoming a focus for companies looking to invest in the sector. PROWLER.io’s data-efficient approach and focus on human-machine teaming really set it apart. We are looking forward to PROWLER.io applying its AI decision platform to a broadening range of customers, potentially including some of Tencent’s affiliate companies.”

Lauri Vaittinen, SVP at Mandatum Life added: “PROWLER.io is on its way to becoming a true enterprise AI platform — successfully expanding from its initial focus on financial services and logistics to apply its core AI technology to multiple adjacent market segments. We are confident that the strategic partners, alongside the existing funding support, will help the company accelerate practical implementations – including hiring more engineering talent, operational managers and reinforce the product development expertise.”

PROWLER.io was founded by mathematicians and engineers following years of research into machine intelligence, probability theory and multi-agent problems. Founded in 2016, it now has 110 employees from 29 countries.

Media Enquiries
PROWLER.io Brunswick Group
Tel: (+44) (0)20 7404 5959
E-mail: PROWLER@brunswickgroup.com
ENDS

About PROWLER.io
PROWLER.io’s mission is to help turn dynamic, real-time data into optimal decisions about business problems. Our AI-engine, VUKU, can process moving data in real time, adapt to uncertainty, act on sparse information and learn from experience. It is data efficient not data hungry, so does not need big data sets to be effective – and is designed to have broad application across multiple sectors. It has been built by a world-class team in Cambridge – combining mathematics, engineering and economic theory in
ways never undertaken before. We are committed to ensuring our AI is comprehensible and its outcomes can be trusted. Our goal is to ensure business is powered by people; empowered by AI.

The ID Co. secures £1.57 million Seed investment from Amadeus Capital Partners and SixThirty

Global fintech, The ID Co., has today announced it has received $2m seed funding from global technology investor Amadeus Capital Partners, SixThirty and other investors.

The ID Co. helps businesses such as lenders to onboard their customers more efficiently. Its technology removes the friction caused during application processes by the current challenges of risk, fraud, compliance, and regulation.

The ID Co. has recently launched two innovative products, DirectID Insights and Income Verification, based on Open Banking. The ID Co. is a market leader in Open Banking – a global movement that grew out of the UK, which allows companies or individuals to securely share their data with a third party. The ID Co.’s mission is to make bank data readily available to any business so that it can revolutionise its offering and transform its customers’ experience.

IDCO Offices

DirectID Insights is the first online decisioning tool for use by underwriters, fraud analysts and Credit Risk Officers that requires absolutely no integration. Leveraging Open Banking data, it drastically reduces operational costs for businesses and unlocks, from bank data, the information required for lenders to grant, or deny loan applications. DirectID Insights user numbers have grown rapidly in the UK and USA and include Clydesdale & Yorkshire Bank, Prosper, Marlette and LendingMate.

The ID Co.’s Income Verification solution utilises six unique algorithms to give a sound basis for assessing a loan application. The tool also gives additional insights such as showing supplemental income and whether the applicant’s income changes over time.

The new investment from Amadeus Capital Partners and other investors will enable The ID Co. to extend its offering to new sectors and international customers while continuing to grow in its existing markets.

James Varga, CEO of The ID Co., said:

“The financial world is being fundamentally changed through Open Banking. It improves our understanding of each individual, allowing us to move away from traditional credit reference agencies.

“This funding gives us the support we need to execute our plan to bring bank data to the global market. We are hiring fast and entering new markets and geographies across the globe. The recent launch of DirectID Insights and Income Verification means that we are in an excellent place to capitalise on the need for greater efficiency in lending practices to reflect borrowers’ expectations.”

CJW_1491

Nick Kingsbury, Partner at Amadeus Capital Partners, added:

“The ID Co. is delivering real value to its clients. The application of Open Banking-based data allows financial providers to personalise their services and streamline and shorten lending processes. We are delighted to be supporting the company in solidifying its lead in the UK and expanding its international presence.”

“SixThirty is excited to continue its support for The ID Co., a growing leader in the digital reality of Open Banking,” added Atul Kamra, Managing Partner of SixThirty.

“The speed at which decisions must be made in our hyper-connected world comes with a growing customer expectation for instant value and service. This places a premium on The ID Co.’s capabilities around rapidly confirming customer identity and delivering customer insights. James and The ID Co. team have gotten a real nice head start here, and are well positioned to take advantage from the regulatory tail winds afforded by Open Banking.”

PolyAI raises £9.2 million Series A investment to deploy conversational AI agents in contact centres led by Point72 Ventures

8th March 2019

Company plans to use its technology to disrupt traditional customer service models

 LONDON, 8 March, 2019 — PolyAI, a platform for conversational artificial intelligence, today announced $12 million in Series A funding. The investment round was led by Point72 Ventures and included investments from Sands Capital Ventures, Amadeus Capital Partners, Passion Capital, and Entrepreneur First. This follows an earlier $2.4 million seed round, led by Amadeus Capital Partners and Passion Capital.

PolyAI’s platform powers conversational AI agents that guide users through complex customer support scenarios. The agents are based on PolyAI’s proprietary machine learning and natural language processing technology, which allows them to scale seamlessly across different use cases and world languages.

“Developing sophisticated AI technology while formulating a compelling SaaS proposition is a significant challenge, and it has delayed the real-world deployment of conversational AI for far too long,” said Nikola Mrkšić, PolyAI co-founder and CEO. “Attempts to bring modern AI to customer support have been largely unsuccessful – due to a lack of data and insufficient understanding of contact center operations. To make rapid progress, we plan to pursue very close integration with existing contact centres.”

“Our machine learning platform works to empower human agents, not replace them,” Shawn Wen, PolyAI co-founder and CTO said. “Our AI agents learn by listening to humans – then, they provide suggestions and improve through feedback. They can do many things that we as humans struggle with. They have instant access to all relevant information and can speak any world language. At peak times, they can handle calls autonomously if human agents are not available.” Mrkšić added: “Ultimately, AI agents are not a replacement for the human touch, which is essential for great customer experience. However, automation is key for changing the economics of a contact centre – if the AI agents can deal with the most routine use cases, this leaves the more complex cases to humans, where they can bring the most value.”

The London startup was founded in 2017 with a core team of scientists and engineers from Cambridge’s Dialog Systems Group. The CEO and co-founder, Nikola Mrkšić, was the first engineer at VocalIQ, a start-up that developed proprietary software to improve dialogue interactions in voice-activated systems, sold to Apple in 2015 to be integrated with Siri.

“We believe strongly in the potential for AI to transform existing industries by improving both customer satisfaction and workforce efficiency, and we’re thrilled to support PolyAI’s mission to build the world’s most advanced call centres,” said Sri Chandrasekar, Partner at Point72 Ventures.  “Nikola, Shawn, and Eddy have put together an impressive team of builders and engineers at PolyAI who are poised to modernize this important aspect of customer service.”

Hermann Hauser, Co-Founder and Venture Partner, Amadeus Capital Partners, said: “PolyAI has identified, in customer experience, a major market in need of intelligent automation. They have a deep knowledge of how conversational AI can enhance human interaction and communication in order to transform the customer service experience. Amadeus is pleased to support this exceptionally smart and proven team as they build out the business.”

Press Contacts:
Nikola Mrksic
+447869767467
nikola@poly-ai.com

Tiffany Galvin-Cohen
(203) 890-2052
Tiffany.galvin-cohen@point72.com

About PolyAI 
PolyAI is a London-based technology company with a state-of-the-art machine learning platform for creating conversational agents. The PolyAI platform empowers contact centres, allowing them to deliver the next-generation of customer experience at a fraction of the cost paid by their competitors. PolyAI’s conversational AI agents understand users and can hold conversations without getting confused. They are available 24/7 and can easily scale to support new use cases or to speak almost any world language.

Beringea Leads £6.5m Investment in Exonar Alongside Downing Ventures

January 21, 2019/in NewsPress Activity /by Dan Welberry

Sector leading data discovery and governance platform, Exonar, a vital tool for the modern data age

London, 21st January 2019: Transatlantic venture capital investor, Beringea, has announced that it has led a £6.5m investment in Exonar, a leading data discovery and management software firm. Downing Ventures, the early stage investor, has also participated in the round alongside notable existing investors, Amadeus Capital Partners and Winton Ventures.

Enterprises are facing a fundamental change in the way they process and store information. An exponential increase in data volume means organisations must find new ways to understand the risk as well as the opportunities in their data. Driven by new regulation, cyber threats and competition, organisations who use data they hold effectively will survive and thrive.

Exonar discovers an organisation’s most sensitive, valuable and personal information. By simply plugging Exonar into a network, an instant view of all structured and unstructured data is provided, enabling the creation of inventories, security of sensitive data and regulatory compliance.

Recent research by EY found the UK’s largest firms spent over $1.1bn to comply with the EU General Data Protection Regulation (GDPR) before it came into force in May 2018, while the same research found that Fortune 500 companies had spent $7.8bn.

Data discovery technology is proving vital to businesses that can easily hold petabytes of data across their entire information estate. The significant growth of data value has led to industry analysts estimating that the global data governance software market will grow 22 per cent annually over the next five years to a value of $3.5bn by 2023. Exonar is well positioned to provide the technology needed to support this extensive growth.

Exonar was founded by Adrian Barrett, a visionary with substantial experience in data, analytics, and information security who has previously worked for Cisco and Lumeta, a global network data specialist. He is supported by an experienced management team with decades of leadership experience in global cyber security and technology companies such as BT, Fujitsu, Veritas, Symantec and EMC.

Adrian Barrett, CEO and Founder, commented: “These are exciting times for Exonar. To receive significant backing from Beringea and Downing Ventures reinforces our belief that the Exonar platform has a significant role to play in enterprise-level data discovery and management. We have a clear vision for future development and the investment will enable us to further enhance our product, enabling our customers to meet current and future data demands such as GDPR and CCPA swiftly, simply and at scale.”

“Data is the backbone of modern business. And yet, it also poses an existential risk, which has traditionally required substantial resources and investment to manage. Exonar transforms this dynamic with a platform that maps and understands petabytes of information in seconds.” Stuart Veale, Managing Partner of Beringea, commented: “Beringea has backed Exonar’s leadership and pioneering technology to create a cornerstone of data governance.”

James Lewis, Investment Director at Downing Ventures, commented: “Not a day goes by that we don’t hear about the importance of accessing and making better use of data in all our businesses – Exonar is at the forefront of shaping and solving this challenge and we’re delighted to be part of the journey with Adrian and the team.”

– ENDS –

Notes to editors

Media contacts:

Henry Philipson, Head of Communications, Beringea

Email: hphilipson@beringea.co.uk

Mobile: +44 (0)7837162546

About Exonar

Exonar is a data discovery software company based in Newbury, Berkshire. Founded in 2013 by Adrian Barrett (CEO), Exonar discovers an organisation’s most sensitive, valuable and personal information, therefore providing the answer to an all-too-common statement – “I just don’t know what I’ve got”.

By simply plugging Exonar into a network, an instant view of all structured and unstructured data is provided, enabling the creation of inventories, security of sensitive data and regulatory compliance.

For more information, please contact Exonar: Tellmemore@exonar.com

About Beringea

Beringea is a highly active growth capital investor with $715m under management and offices in the UK and US. It supports high-growth businesses with annual revenues of more than £1 million, investing between £1 million and £20 million to help companies scale.

With a successful track-record of investments spanning 30 years, Beringea has more than 60 portfolio companies across its US and UK offices. The company has a history of strong partnerships with management teams, often reinvesting in its successful entrepreneurs.

Its core areas for investment include digital media, business software and services, and consumer industries. With an extensive range of expertise across the team, and an ability for spotting and following opportunities, Beringea’s portfolio includes companies in a range of sectors, and its team continues to be at the forefront of emerging trends.

http://www.beringea.co.uk/

About Downing Ventures

Downing Ventures is an evergreen fund investing in seed to Series A companies, with the possibility of follow-on investments. It invests in a variety of technology sectors including consumer internet and mobile, enterprise software, financial technology and health technology. The fund has a portfolio of around 45 companies as of October 2018. Downing Ventures work alongside a number of investment partners and accelerator programmes and incubators, including the London Co-Investment Fund.