Artificial secures £4.2 million Seed investment led by Alma Mundi and Force Over Mass

London-based InsurTech company Artificial has closed a round of seed funding for £4.2 million, ensuring that the tech startup continues its rapid growth and impressive product development. The funding is a co-investment between Alma Mundi InsurTech Fund, Force Over Mass and other investors.

The company, who have cemented themselves as one of London’s most exciting new InsurTech prospects, will use this investment to scale and grow in key areas, including:

– Expanding their engineering and sales teams

– Targeting new geographical areas such as the US, the Middle East and China

– Scaling their current platform

Artificial’s impressive growth has been driven by their growing recognition of the issues faced by those in the insurance industry. Through innovations in Machine Learning and AI, Artificial has developed smart, forward-thinking solutions for the next generation of customers who demand more from their insurance.

‘This is fantastic news for Artificial,’ according to co-founder and CPO, Johnny Bridges. ‘We are delighted to work with Alma Mundi InsurTech Fund and Force Over Mass, who have shown their belief in our ability to provide digital solutions to the insurance industry on a large scale. This round of funding shows our commitment to growing Artificial and will enable us to expand and scale our current platforms.’

Suir Valley Ventures leads £3m funding round in VividQ

Suir Valley Ventures, the entrepreneur-led venture capital fund launched in partnership with Shard Capital Partners LLP to invest in early-stage software companies across a range of high-tech verticals including Augmented Reality (‘AR’) and Virtual Reality (‘VR’), Artificial Intelligence (‘AI’), and the Internet of Things (‘IoT’), is pleased to announce it has led a £3 million funding round in VividQ Limited – a UK-based deep tech software company pioneering the application of holography in AR/VR and consumer electronics display.

Overview

  • VividQ is a deep tech start-up with world-leading expertise in 3D holography. The company developed patented software to enable commercial applications of holographic display in AR/VR headsets, smartglasses, automotive head-up displays, and consumer electronics.
  • VividQ was founded in February 2017 in Cambridge, UK. Technical co-founders include engineers, mathematicians and computer scientists from the University of Cambridge, Oxford, and St Andrews with expertise in digital holography.
  • VividQ established partnerships with chipmakers, display and hardware manufacturers in the US, Taiwan and Europe, to enable mass adoption of holographic display with their patented software for hologram generation.
  • The AR market is expected to grow from $11 to $61 billion between 2018 and 2023, with the VR market growing from $8 to $34 billion in the same period, at CAGRs of over 30%, according to Markets and Markets. At the same time, the global display market, valued at $115.60 billion in 2017, is projected to reach $206.29 billion by 2025, registering a CAGR of 7.4% from 2018 to 2025, according to Allied Market Research.
  • The investment will enable VividQ to accelerate the adoption of their hologram generating software. They aim to double their Cambridge and London-based teams to implement further developments to the software framework and complete ongoing customer projects, to productise devices using holographic display in 2020.

Suir Valley Venture Managing Partner, Barry Downes, said, “We are delighted to lead the £3million investment round in VIVIDQ Limited. Darran and his team have the unique combination of the world-leading expertise and the pioneering,  proprietary software technology that is the missing piece needed for the mass adoption of holography, which will radically enhance and grow the AR and digital display industry.”

VividQ’s CEO, Darran Milne, said, “Suir Valley have been great to work with, both for their professionalism and deep understanding of the companies they invest in and the technology behind them. They demonstrate the kind of vision and passion that the deep tech companies of today need to accelerate bringing truly disruptive solutions to market.”

Further Information

Founded in February 2017, VividQ is a deep-tech software company with world-leading expertise in 3D holography. With seed funding, VividQ has grown its Commercial and Technical teams in Cambridge and London, made a full release of their software framework, and secured partnerships with world-class customers including hardware and embedded systems manufacturers.

Holography has long been considered the ultimate display technology. The science fiction ideal of engineering and manipulating light to produce 3D projections appealed to the imagination of millions through franchises such as Star Wars or Star Trek. While physically possible, the tremendous computing requirements to create full-depth holographic display made it unreachable for commercial applications. Until now.

VividQ has developed solutions required for the mass adoption of holography in AR and consumer electronics. Its patented software framework allows for the real-time generation of holograms from 3D data, and projection on available micro-displays. Commercially viable holographic display solves a crucial problem of today’s AR/VR – the lack of depth perception, which disrupts the user’s sense of realism and results in eye-fatigue and nausea. Holography overcomes these issues and paves the way for immersive 3D without the need for glasses at all.

With technical co-founders leading their team out of Cambridge (UK), VividQ has benefited from the rich research environment of the University and its Centre for Advanced Photonics and Electronics. VividQ’s Commercial Team operates from London, as part of the rich entrepreneurial network of TechHub and Innovation Warehouse. The company has achieved wide recognition at international industry events including AWE, nVidia GTC, Photonics West, and Mobile World Congress.