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The world of AI startups is growing day by day and it’s great to see so many U.K. companies leading the force. Here at Swoop we conducted some research into this thriving industry and here are five startups to watch in 2019.
A Cambridge-based AI and machine learning startup, Power.io mainly concentrates on areas such as stimulation in virtual environments and behavioural learning. Since 2016, the platform has gathered £10 million in series A funding from Cambridge Innovation Capital and Atlantic Bridge Capital.
SenSat was founded together by James Dean and Harry Atkinson and it uses AI to build digital copies of real-world locations. Artificial intelligence models are then released at these digital environments to extract important and valuable information which makes decision making faster, smarter, and safer.
To date, SenSat has raised nearly £3.4 million in seed funding from a combination of VC firms and angel investors.
CognitionX
They call themselves ‘the AI advice platform’, and as the phrase suggests CognitionX strives to boost the adoption of AI across organisations.
The platform connects companies with queries related to AI with specialists who can solve them. In 2018, CognitionX rasied £3.2 million from investors such as Unilever Ventures, and CXO Fund.
The team behind FiveAI works to put forward an autonomous transport system which can be applied efficiently across self-driving taxis. The company was born in Cambridge and then spread to different locations around the UK. The CEO of FiveAI, Stan Bolan founded three other startups which have been acquired by NVIDIA, Huawei, and Broadcom. FiveAI has raised a total of £26 million in two rounds of funding to date.
JukeDeck
Last but not least, we have an AI startup that has dedicated itself to music. The London-based company was founded in 2014 and works with algorithms to create original melodies from scratch.
In 2015, Cambridge Innovation Capital invested £2 million for JukeDeck. Most of the company’s clients are filmmakers, and YouTubers who works on a shoestring budget to get royalty-free music made to play in the background.
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