Mindtech Global secures £2.3m in seed funding led by Mercia to expand its visual artificial intelligence platform.
The round was led by NPIF - Mercia Equity Finance with participation from Deeptech Labs and In-Q-Tel.
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.
Sheffield-based Mindtech Global has secured £2.3m in a seed funding round led by NPIF - Mercia Equity Finance. Additional backing came from Deeptech Labs and In-Q-Tel. The capital will be deployed to expand the company engineering team in Yorkshire, enhance its synthetic data platform, and accelerate international sales across global markets.
From the founder
"Data scientists and machine learning engineers can spend up to 80 per cent of their time sourcing, cleaning and organizing training data. Our Chameleon platform solves this challenge. This round will enable us to open up our platform to even more customers in the US, Europe and Asia-Pacific, enabling them to build AI vision solutions that better understand the way humans interact with each other and the world around them."
Steve Harris
CEO at Mindtech Global
Investor perspective
"Mindtech’s game-changing technology has the potential to transform theAI industry, which will underpin many areas of our day to day life. This investment round, led by NPIF and Mercia, willallow it to build its team and its client base to take the business to the next level."
Will Clark
Mercia
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
Investors
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About the company
Mindtech Global
Mindtech Global builds synthetic data platforms to train artificial intelligence vision systems.