The University College London spin out raised the capital from IQ Capital to scale its artificial intelligence software optimisation suite.
"We are at the precipice of automated optimisation and TurinTech.ai is well-positioned for clients who wish to increase profitability and reduce costs. Our research has prompted interest in our commercial product from big tech companies, a multinational FMCG, fintechs, other startups and hedge funds to name a few."
The Series C round was led by Redline Capital with backing from MMC, GMG Ventures, and Hearst Ventures.
"Our vision at Signal AI is to transform business decision making through augmented intelligence. We are building artificial intelligence and machine learning technologies that learn what an executive needs to know and investigate huge amounts of data to provide critical insights in real-time. The results give them absolute clarity about what’s happening outside their organization to make the most informed decisions,"
Ingka Investments led the Series B round, which will fund technology development and international expansion.
"We are very excited about driving the business forward in our global fight against food waste and we are grateful for the continuous support of our investors, with one strategic partner of the investor group Ingka Investments using Winnow on a daily basis across IKEA stores globally. This year we launched our ground-breaking AI product Winnow Vision, and chefs using Winnow around the world are saving $33m worth of food from going to waste annually. We have set a target to save our customers $1bn by 2025, and this investment will accelerate our technology development and business development approach to help achieve this ambition."
The financing round was led by Atomico with participation from several returning and new investors.
"The size of this Series B financing, especially this quickly after our Series A round last year, is an endorsement of the value of our platform and the pace at which we have developed. It allows us to scale our impact with the launch of our Rare Treatment Accelerator programme and to progress into clinical trials."
Maven Capital Partners led the Series A round to help the language platform open a New York office.
"Our value proposition is simple. We help companies address the immense challenge of analyzing unstructured language data, which is growing at a rapid pace,"