Mindtech Global raises £2.8m from Appen to support rapid growth.
The investment round was led by Appen and will support the company's rapid growth.
Mindtech Global develops synthetic data platforms that help train artificial intelligence vision systems. Its technology generates realistic virtual imagery to reduce development costs and compliance risks.
Mindtech Global has secured £2.8m in a seed follow-on investment round led by Appen, alongside participation from existing backers. The fresh capital will be deployed to support the company as it scales operations and pursues rapid expansion in the AI sector.Alongside the funding transaction, the two businesses have established a commercial partnership to combine real-world data services with synthetic image generation.
Investor perspective
"Synthetic data is an invaluable resource in the training of AI models and when combined with real-world data can enable outstanding results. We’re excited to partner with Mindtech as their automated end-to-end end synthetic data platform producesthe right synthetic data for our customers, faster than competing solutions."
Mark Brayan
CEO, Appen
Use of funds
- 01Grow the team
- 02Scale operations
Investors
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About the company
Mindtech Global
Mindtech Global builds synthetic data platforms to train artificial intelligence vision systems.