Opteran secures £2.1m in seed funding led by IQ Capital to advance natural intelligence for robotics
The seed round was led by IQ Capital with participation from Episode1, Join, and Seraphim Capital.
Opteran develops machine autonomy software that re-engineers insect brain patterns to provide real-time situational awareness. The company builds lightweight solutions for ground and aerial machines.
Sheffield based Opteran has secured £2.1m in a seed funding round led by IQ Capital. The financing will support the company as it advances its natural intelligence technology for autonomous machines and expands its engineering and commercial teams.
Additional backing for the round came from Episode1, Join, and Seraphim Capital, alongside angel investors and a grant from the Connecting Capabilities Fund. The company builds on academic research from the University of Sheffield, creating lightweight silicon systems that mimic insect brains for efficient robotic navigation.
The capital arrives as Opteran prepares to launch its initial development kits and expand algorithm functionality for obstacle avoidance and mapping over the coming months.
From the founder
"2021 will be the year when Natural Intelligence will challenge deep learning in solving some of the most fundamental short-comings in autonomous applications and this funding round will set Opteran on a path to be at the forefront of this next wave. Already in a position to demonstrate the technology, we are confident that Natural Intelligence will become highly sought after as the way to deliver lightweight, low-cost and effective autonomy in a radically new way that will open up huge growth opportunities for robotics."
David Rajan
CEO at Opteran
Investor perspective
"We are hugely excited to be working with Opteran, as Natural Intelligence adds a whole new dimension that will transform the way in which we create intelligent machines – starting with the design of more efficient silicon brains for robots and autonomous vehicles. We are delighted to be supporting them at the start of their commercial journey and are excited to see the technology they create and the role it plays in the wider AI market in the years ahead."
Ed Stacey
managing partner, IQ Capital
Use of funds
- 01Grow the team
- 02Continue product development
- 03Fund research and development
