Mercuri is an early-stage venture capital fund that leads pre-seed and seed funding rounds for UK companies at the intersection of media, entertainment and AI.
Northern Gritstone and Mercuri co-led the pre-seed round to help the Newcastle-based artificial intelligence firm commercialise its technology.
"We’re at a pivotal moment for AI with adoption continuing to accelerate alongside sustainability and cost concerns. Our logic-based AI offers a new solution for those that want and need high-performing AI that is faster, more energy efficient and more explainable than what’s currently available via neural networks. This funding comes at a time when we’re ready to significantly speed up our product development and will enable us to bring our first product to market later this year."
The oversubscribed round was co-led by Mercuri and Sure Valley Ventures to expand the engineering and enterprise sales teams.
"Ittybit was created to address the pain we felt handling large videos in our previous companies. We built the media tools we wished we’d had access to, and are making them available to all developers, because robust media workflows shouldn’t be so expensive or complicated that only the largest tech companies can access them."
Mercuri led the seed investment round to support product, marketing and partnership efforts at Made With Intent.
"The current measures of success are the problem. Metrics like conversion rate, and therefore the actions retailers take to improve them, are short-term, retrospective and aggregated."
