The London-based unicorn has appointed Prem Akkaraju as chief executive alongside its latest financing.
"Stability AI is the backbone of the visual AI ecosystem. The Company’s world-class team, breakthrough models, and unique developer network attracted me to take on the CEO role. We will continue to release the most cutting-edge open models for the community while meeting the overwhelming demand for AI solutions from large-scale corporations. Additionally, Stability AI is now in an ideal position to spearhead the real convergence of generative AI and studio content."
The £6m round was led by Clean Growth Fund, Eurazeo, and Aviva Ventures to scale low-carbon heating infrastructure.
"Decarbonising heat is critical to achieving our net zero targets. Rendesco’s heat network solutions provide a cost-effective and efficient route to delivering the low-carbon heat required for the transition away from gas to renewable alternatives. This investment aligns with our commitment to empower early-stage entrepreneurs to tackle the climate change crisis."
Parkwalk Advisors led the round with a £3.5m investment to fund new pediatric capabilities for the Censeo platform.
"Psyomics’ technology can help transform how we approach the assessment of mental health conditions not only in the UK but globally. Psyomics has an exciting pipeline of new technologies and services that will see it pioneer a more efficient approach to mental health diagnosis. It is an exceptional example of the contribution that the UK’s universities are making throughout healthcare, and we are delighted to help Psyomics scale and reach more people."
The new capital will support the creation of eight deep technology startups this year.
"This investment underlines the growing importance of DeepTech startups for the UK’s industrial strategy. CFT is poised for continued expansion, aiming to establish a sister VC arm to further strengthen our venture-building capabilities."
