Seed27 February 2024

Graide secures £1.7m in seed funding led by XTX Ventures to drive international expansion

The funding round was led by XTX Ventures with participation from existing backers including Mercia Ventures and SFC Capital.

£1.7MSeed

Graide provides an assistive AI marking and feedback platform designed for educational institutions. The university spinout helps teachers grade assignments while maintaining transparent and explainable results.

Graide has secured £1.7m in a seed financing round led by XTX Ventures. The capital will support the company as it scales operations in the domestic market and pursues international expansion into the US and Canada.

Additional participation in the round came from existing backers including Mercia Ventures, the MEIF Proof of Concept and Early Stage Fund, and SFC Capital alongside private investors. The latest injection brings the total capital raised by the platform to over £2.5m.

Founded out of the University of Birmingham, the business employs assistive artificial intelligence to evaluate student essays and reports. The technology aims to reduce administrative workloads for educators while maintaining rigorous standards of accuracy.

From the founder

"Graide provides transparent, explainable AI, a requirement in today’s world, and can cover all subjects taught from school to university level, saving teacher time. We are pleased to welcome XTX Ventures, which has extensive experience in AI and machine learning, as a new investor in this round."

Manjinder Kainth

CEO at Graide

Investor perspective

"We are delighted to have invested in Graide and we look forward to supporting the wonderful team there as they continue to expand in the UK and across the US and Canada."

Oliver Scott

Global Head of Treasury at XTX Markets, XTX Ventures