AI firm PROWLER.io lands £10m Series A
Cambridge-based AI company set to expand its team with “even greater research muscle” ahead of bringing its decision making platform to market
PROWLER.io, the Startups 100-featured artificial intelligence (AI) start-up, has closed a £10m Series A funding round led by Cambridge Innovation Capital (CIC), alongside Bridge Capital, Passion Capital, Amadeus Capital Partners and SGInnovate.
Founded by Vishal Chatrath, Dr. Dongho Kim and Aleksi Tukiainen, Cambridge-based PROWLER.io claims to be creating the “world’s first” principled AI decision making platform.
Its systems are autonomous, learn from experience, and adapt to changes; making it possible to perceive and affect the way agents such as vehicles, drones, robots, characters in games and even people interact in complex environments.
The funding follows a £1.5m seed funding round in October 2016 and will be used to bolster PROWLER.io’s team of researchers and continue the development and commercialisation of its platform.
CEO Chatrath has experience in the AI space as chief business officer of VocalIQ – the voice interface platform that was sold to Apple in 2015 – and was previously head of automotive at Nokia.
Although it has yet to launch a commercial product, PROWLER.io already has 50 employees made up from 22 different nationalities.
Chatrath commented: “This investment will allow us to expand our already world-leading team of academics with even greater research muscle and will enable us to take further steps to bring our technology to market.
“As a team, we are ready and eager to take the business to the next stage and continue solving some of the hardest machine learning problems to deliver the world’s first principled AI decision making platform.”
Andrew Williamson, investment director at CIC – who has joined PROWLER.io’s board – added: “PROWLER.io has assembled a world-class team of researchers to tackle some of the most intractable problems of our age.
“It is hugely exciting that the company is able to capitalise on the expertise in probabilistic modelling, principled machine learning and game theory available in Cambridge.”