CBR looks at five UK start-ups which have been noticeably creating innovations and acquisitions in the AI market.
BenevolentAI
Industry: Scientific discovery/ Pharmaceutical R&D
Founded: 2013
CEO: Jerome Pesenti
BenevolentAI, which is based in London, is responsible for applying the AI technology in the human health and bioscience sectors.
In 2014, the company collected a total of £40 million in funding from both its existing investors and Woodford Investment Management LLP, which was then an incoming investor.
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The company is currently focused on diseases, such as neurodegeneration, orphan diseases and rare cancers, but have said it remains flexible in case any other opportunities are to arise, due to its artificial intelligence and machine learning capabilities.
BenevolentAI uses complex AI to look for patterns in scientific literature, already having managed to identify two potential drug targets for Alzheimer’s with the use of AI.
It also recently announced that it was the first European company to begin using deep learning AI supercomputer, NVIDIA DGX-1.
Darktrace
Industry: Transformative technology
Founded: 2013
CEO: Nicole Eagan
Darktrace was founded in Cambridge, UK, by mathematicians and machine learning specialists from the University of Cambridge, along with intelligence experts from MI5 and GCHQ to deliver transformative technology to cybersecurity.
The company has a total equity funding of $104.5 million, totalled in three rounds from seven investors.
It has delivered the world’s first operational Enterprise Immune System, from its skills in mathematics, software and intelligence.
It’s ‘core’ product is the flagship threat detection and defence capability for the Enterprise Immune System. The benefits include self-learning, real-time, adaptive and many more.
DeepMind
Industry: Artificial intelligence research
Founded: 2010
CEO: Dr Demis Hassabis
DeepMind, which was acquired by Google in 2014 and is located in London, focuses on ways in which to push the boundaries of AI.
It is expected that the acquisition by Google totalled £400 million.
Part of this mission is to develop programs that can learn to solve any complex problem without having to be taught how.
Google DeepMind recently developed a new programme, which leverages deep learning and external memory to navigate the London Underground system.
Magic Pony Technology
Industry: Research technology
Founded: 2014
CEO: Rob Bishop
The company aims create a new approach to video compression by combining machine learning and computer vision research.
It was acquired by Twitter earlier this year, which plans to use Magic Pony’s technology to make better-quality video compression that uses less data.
The deal between the two companies’ cost $150 million.
Magic Pony has developed technology based on research in creating algorithms that can understand the features of imagery.
FiveAI
Industry: Autonomous technology
Founded: 2014
CEO: Stan Boland
The company enables research to implement the complex software of tomorrow’s autonomous vehicles. This software must be robust in all potential mobility environments and situations; being aware of other road users likely actions before they happen and ensuring that vehicles powered by our software drive safely and just as other road users would expect.
FiveAI’s total equity funding of $2.7 million, which was gathered from is most recent funding from ‘seed’ funding types from three investors.
Recent software was built by FiveAI to remove the need for highly detailed 3D mapping.
