Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million
ai

Fintech app Chip, a chatbot that helps users automatically save money from their bank accounts, has secured £1.078 million on crowdfunding platform Crowdcube. Chip is plugged into users’ bank accounts, and leverages an AI system to calculate an ideal amount of money to put aside every day. Customers can also interact with the service through a chatbot app […]

Britain’s Digital Catapult has announced the creation of a a “Machine Intelligence Garage” providing  Artificial Intelligence and machine learning startups access to computing power and specific expertise. The government-backed innovation-boosting organisation revealed the new programme on Thursday, explaining that the garage will be kick-started on 23 January 2018, and run for a period of three […]

The United States of America are falling behind in the Artificial Intelligence arms race, as China and Russia are striding ahead with the creation of AI-powered weapons, a new report revealed. The study— by data analysis group Govini and ex US Deputy Secretary of Defence Robert Work— flagged up how the American Department of Defence risks losing […]

London-based AI startup LabGenius, has raised £2.6 million in a Seed round led by Kindred Capital and Acequia Capital, and also backed by Berggruen Holdings Ltd, Backed VC, Beast Ventures and System.One. The round also included Microsoft’s former head of corporate strategy Charlie Songhurst, and angel investor Tom McInerney. Founded in 2012 by James Field and Rhys Algar, […]

Alphabet-owned fund CapitalG has poured £375 million of additional funding into Lyft, the ride-hailing service that many regard as Uber’s main rival. The tranche comes on top of a £750 million round CapitalG had announced in October. First broke by news website Axios —which spotted a US share authorisation document filed in Delaware—the rumour was later confirmed by Lyft, […]

Food-delivery app Deliveroo has secured £73 million ($98 million) in a Series F funding round it started raising in September,  and which has so far raked in £385 million. The round was led by T. Rowe Price and Fidelity; DST Global, General Catalyst, Index Ventures, and Accel Partners also took part. Deliveroo is now well into […]

Artificial Intelligence and driverless technology featured prominently in UK Chancellor of the Exchequer Philip Hammond’s budget speech, in which he announced new investment and tax breaks for technology companies, in the latest bid to shore up the sector ahead of Brexit. Life sciences, immersive technology, 5G, and FinTech were other key fields Hammond mentioned in his […]

Autologyx, a London-based startup that leverages Artificial Intelligence to automate business processes, has raised £1.5 million in a pre-Series A investment round led by Beacon Capital. The round was also backed by Angel CoFund and Richard Hargreaves, which are now going to join the company’s board as non-executive directors. Launched in 2011, Autologyx is a Software as a […]

Artificial Intelligence in banking and finance could result in instability and unexpected muddles, international organisation Financial Stability Board has warned in a new report. Robotic trading— namely,  the increasingly pervasive use of algorithmic decision-making systems by banks, insurers and asset managers — might have some nasty undersides, and be hijacked by hackers and criminals to purposely manipulate market prices, […]

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