- City investors join with University of Oxford investment groups to fund the next stage of Mind Foundry’s growth
- Funding will allow the company to launch machine learning applications into key vertical markets of financials, telecommunications and life sciences
- Platform makes machine learning simple to deploy and augments the capabilities of business problem owners
10 April, 2019 - Mind Foundry, a technology spin-out from the University of Oxford’s Machine Learning Research Group (MLRG), today announced it has completed its third round of funding with investment worth £4.5 million. This latest round of investment will enable the company to complete the countdown to the commercial launch of a machine learning platform developed to enable anyone, of any technical ability, to solve their business problems using machine learning.
“We are excited to back a visionary company that is making machine learning applicable to anyone with access to data; helping them make better decisions and cope with the deluge of data in a profound and principled way,” said key Mind Foundry investor Matt Arnold of Oxford Sciences Innovation. “The platform, built by world-class machine learning experts and born out of the University of Oxford, will enable the emergence of the citizen data scientist, empowering every data owner to become a machine learning expert.”
Mind Foundry is an early growth stage company, spun out in February 2016 from the University of Oxford’s Department of Engineering Science by Professors Stephen Roberts and Mike Osborne, the lead academics behind the University's Machine Learning Research Group. The company has assembled a team of academics and professionals to develop new machine learning capabilities that humanise the machine learning process. The platform takes business data and processes through several applicable machine learning models in the course of minutes, not days. It then walks problem owners through the process, giving advice and guidance along the way to give them the understanding necessary for continual improvements, better observations and a complete understanding of the outcomes.
“A key problem for major businesses and global leaders confronting an ever-increasing amount of data, is how to simplify and support the decision-making processes their management and data analysts need as they transform and reinvent existing business models,” said Professor Stephen Roberts, Co-founder and CSA, Mind Foundry. “Our objective is to help organisations leverage their existing investment in technology and to future-proof their businesses with easy to use, state-of-the-art operational machine learning designed to make transformations at every level, in business, in industry, in science and in society.”
About Mind Foundry
Mind Foundry gives business problem owners peace of mind that the questions they are asking of their data are answered correctly and honestly through a user-friendly machine learning platform. It is a portfolio company of the University of Oxford, founded in 2015 by Stephen Roberts and Mike Osborne, two of the leading minds in machine learning. Mind Foundry is used by some of the world’s largest investment firms, telecommunication providers and life science companies to prepare their data, prioritise their opportunities for applied machine learning, and publish and test their business-critical data solutions.