Cardiff-based AI start-up raises £800,000 in investment
Amplyfi, a start-up that creates artificial intelligence software, has announced that it’s just closed an £800,000 equity investment round.
The round was led by Finance Wales – one of the UK’s largest regional SME investment companies – along with additional financial support from private investors.
Ashley Cooper, co-founder and director of Catalyst Growth Partners, also took part in the round. This brings the company’s total funding to over £1 million.
Based in Cardiff, the company has created a product that combines surface and deeb web harvesting, artificial intelligence and data visualisation within a single platform.
Aimed specifically at supporting strategic decision-making, the DataVoyant platform provides unbiased insight while reducing intelligence acquisition costs.
Improving competitor intelligence, investment optimisation and M&A targeting, it’s being used by some of the world’s largest companies in sectors such as aerospace and defence, banking, energy, insurance, private equity and professional services.
This second equity round follows investment it received from Finance Wales in August 2016, along with a recent £400,000 loan from the Welsh Government. The finance is enabling it to employ more highly-skilled programmers.
Chris said: “The future of business intelligence lies in delivering high performance, easy to use solutions driven by the most advanced Artificial Intelligence capability.
“Amplyfi’s next generation architecture has been purpose-built to address this challenge. This latest round of funding will allow us to continue our exponential growth to meet the needs of our rapidly growing client base.”
Philip Barnes, investment executive for Finance Wales’ Technology Venture Investments, also said: “Amplyfi is a superbly managed company, with a team of high-class Artificial Intelligence and strategy experts.”