Onfido, an innovative start-up created by students at the University of Oxford which uses artificial intelligence to verify customer identities, has been sold to Entrust Corp, a global leader in trusted payments, identities and data security.

Bridgend-based AI technology firm Clinithink is helping to improve patient care, relieve workloads for stretched clinicians and deliver significant savings to the NHS with investment from the Development Bank of Wales.

Meysey, a fraud protection startup that utilises artificial intelligence (AI), has successfully raised £250,000. This funding will be used to develop AI-powered fraud protection software specifically designed for small and medium-sized enterprises (SMEs).

Global digital video consumption grew 24% in the previous year, according to a recent report [1], and now accounts for 82% of all Internet traffic according to Cisco [3]. Meanwhile, investment in artificial intelligence also grew at an exponential rate, from 11% of VC funding dollars in 2022, to 26% in 2023 [2]. However, the majority of AI research continues to be confined to written inputs and outputs.

Algor Education has received investment from the Investors Club.

AI audio content pioneer Wondercraft has raised a $3m Seed round to scale its ‘Canva of audio’ platform in a round led by Will Ventures and backed by Y Combinator,  ElevenLabs, Steven Bartlett and other Angels. The technology enables anyone to create studio-quality audio productions - whether it’s for podcasts, ads, audiobooks, meditations or training materials - in any language, by simply typing.

BULGARIA: Nasekomo, the European scale-up focused on insect bioconversion for sustainable high-quality protein production, has raised €8 million in growth capital.

NumberEight, a London-based startup using on-device AI to deliver ‘privacy-first’ identity solutions for the advertising industry, has raised $2.7 million in Pre-Series A funding led by ACF Investors. The investment will be used to drive commercial growth, bolster product development, and expedite US expansion following significant inbound market interest.

BirdsEyeView, a European Space Agency-backed insurtech startup, has closed an investment round led by the European Space Agency, Big 5 Investors, InsurTech NY and ACF Investors. This latest investment, for an undisclosed seven-figure sum, will be used to drive growth in the UK and US markets and further develop BirdsEyeView’s RAPTOR™ technology, which is set to democratise insurers' access to NatCat modelling , exposure management, and underwriting automation. 

London robotics startup, Samudra Oceans, has secured a £150,000 investment from British Design Fund, as part of a £800,000 pre-seed funding round, for its technology that aims to positively impact sea farming and the blue economy.

Samudra Oceans’ innovative AI-powered static monitoring robots use powerful sensors and cameras that enable farmers to actively monitor and predict their seaweed yield. They are designed to support the growth of sustainable seaweed farming by reducing unnecessary and costly boat trips and labour – something which can often far outweigh sale prices.

Eilla AI, a generative AI platform designed to assist M&A, venture capital (VC), and private equity (PE) professionals with financial research, analysis, and document creation, has raised $1.5m in seed funding as it looks to grow the team and scale the company and its offering.