The pre-Series A round and Innovate UK grant will fund federated learning development and platform scaling.
"Critical Infrastructure is a multi-trillion dollar industry. Across Energy, Utilities and Telecoms – on-device Federated Learning has the potential to improve performance, reduce failures, enhance security and lead to more efficient, more sustainable services. The OctaiPipe team has already demonstrated significant customer traction and we are delighted to support them as they scale to address this important market."
The London simulation platform has secured backing from Cogito Capital Partners alongside Edge VC, Taiwania Capital, Movens Capital, and High Tech Grunderfonds.
"The pedigree of our investors speaks for itself: their experiences in scaling businesses that focus on vision AI will be indispensable at a time where similarly synthetic data is bringing so much immediate value in the real world. SKY ENGINE AI’ mission is to augment deep learning teams to create AI models that generalize better against unknown real-world data and with reduced algorithmic biases"
The fintech company has raised £2m from existing backers Thomson Reuters Ventures and Love Ventures to accelerate product development and commercial growth.
"We’re reinvesting in Detected because we have a strong belief in the company’s long-term potential. As customers, we have seen first-hand the impact the technology has, and we’re excited about the momentum that Detected has developed in the market."
Gresham House Ventures backed the round to support product development and go to market scaling.
"Coming off the back of a very strong year of financial growth and strategic transition under Jim's excellent leadership, we believe these additional strategic steps in taking further investment, and making key new appointments will position Patchworks for even stronger growth in 2024."
Leonard Green & Partners joins Hg and ICG to back the accounting and payroll software provider.
"To secure backing from a leading US investor in LGP, alongside the continued support of Hg and ICG, underscores IRIS’s enduring success over many decades. Our unparalleled product portfolios combined with excellent customer service have resulted in IRIS being a leader in our sectors. We have also expanded our country presence with a notable focus on the US, so LGP’s local expertise will be instrumental in our acceleration to a world-class transatlantic business."
