Silico raises £3.4m in seed funding led by Join Capital to expand engineering and European reach.
The seed round was led by Join Capital with participation from Forward Partners and angel investors.
Silico provides an AI-powered decision making platform that enables businesses to simulate outcomes in a risk-free environment. The company works with global enterprises across banking, telecoms, healthcare and chemicals.
Silico has secured £3.4m in a seed funding round led by Berlin-based Join Capital, with additional backing from existing investor Forward Partners and various angel investors. The capital will be directed towards expanding the core engineering team, enhancing AI recommendation functions, and scaling commercial operations across Europe.
The London-based company operates a no-code simulation platform that allows organisations to create digital twins of business processes and test strategies before real-world implementation. Clients include major enterprises such as Vodafone.
As part of the transaction, Sebastian Von Ribbentrop of Join Capital joins the company board.
From the founder
"Silico is on a mission to transform the way enterprises make decisions and I am delighted that Join Capital are joining us on this journey, alongside Forward Partners and our angel investors. They are already unlocking immense value in the business by providing us with access to key markets in mainland Europe and introducing us to new corporate customers. We have been privileged to have spent time getting to know the team at Join Capital; our values are fully aligned and we could not think of a better partner to work with as we embark on our next stage of growth."
John Hill
CEO and Founder at Silico
Investor perspective
"At Join, we’re strong believers that low-code/no-code decision making software like Silico will be the basis for future decision making. Machines are getting much better at automating manual tasks, but they lack the nuance and understanding that humans have. We’ll be supporting John, Chris and the rest of the team in their journey to make decision planning a practical discipline for business leaders."
Sebastian Von Ribbentrop
Partner, Join Capital
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
Investors
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About the company
Silico
Silico develops an artificial intelligence platform for business decision simulation.