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

An algorithm that was being developed as a recruitment tool by online giant Amazon between 2014 and 2017 was sexist and had to be scrapped, Reuters reported. Amazon has been using automation substantially, as part of their e-commerce market strategy. The company’s experimental hiring tool used artificial intelligence to give job candidates scores based on […]

London insurance technology start-up Concirrus today closed a further £5m fundraising effort from tech investor IQ Capital and EOS Venture Partners. The investment, which takes Concirrus total amount raised to date to £12m, comes after the company signed a global deal with Big Four accountancy firm EY last April, injecting machine learning tech into the […]

Chinese tech giants Baidu and Tencent will contribute to two open-source projects focused on machine and deep learning advances, The Linux Foundation announced earlier this week. The collaboration aims at the long-term goal of making AI technologies easier to use while improving cloud services using deep learning technologies. Tencent’s Angel Project is built on a […]

London-based security startup INCOPRO has secured £15.5 million ($21 million) from Highland Europe. The company plans to use the funding to better develop its anti-piracy and counterfeits technology. Founded in 2012 by Simon Baggs and Bret Boivin, the INCOPRO helps companies and online brands to fight off IP infringement. “The internet revolution has created a […]

Facebook’s CEO Mark Zuckerberg announced he does not have any plans to appear before the UK Parliament’s Digital, Culture, Media and Sport Committee to give evidence about the Cambridge Analytica scandal. The snub follows threats of an official summons, and a hearing given by Facebook’s CTO Mike Schroepfer, which the Committee found to be unsatisfactory. Following […]

The movies Netflix recommends, the advertisement we are shown after a Google search, the random song Spotify plays next. Most of these things are automatically “decided” by algorithms, and we know that. But have you ever stopped to think what is the rationale behind those choices— why Netflix’s algorithm went for Moonrise Kingdom instead of […]

London-based fintech startup Revolut has raised a staggering £180 million ($250 million) Series C round led by Hong Kong’s DST Global and backed by a number of new and old investors including Index Ventures, and Ribbit Capital. The company offers a range of digital banking services and it is also popular among cryptocurrency traders. Founded by Russian […]

London-based  Arkera, a FinTech company that is applying  Artificial Intelligence technology to personal investment, has raised £4 million in a round led by by XTX Markets and Alan Howard, and also backed by DOCOMO Digital, Henry Ritchotte and a number of other undisclosed investors. The sum, raised all in cash, will be invested in the further development […]

  Crowd-intelligence platform Streetbees has secured £8.6 million in a Series A funding round led by British Venture Capital firm Atomico. The round was also backed by Streetbees’s  previous investors LocalGlobe, Octopus and BGF Ventures. The London-based company uses mobile geolocation and social media to collect feedback and trends about brands and businesses from a crowd of users (“bees”) the […]

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