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Mind Foundry is an artificial intelligence company that is headquartered in Oxford, Oxfordshire. The company is a spin-out of the University of Oxford and was founded by two professors of machine learning at the university, Stephen Roberts.[1] and Michael Osborne.[2] The company specialises in “AI for high-stakes applications”.[3] Mind Foundry primarily operates in three sectors: Insurance, Infrastructure, and Defence & National Security.[4]
 | |
| Company type | Scale-up |
|---|---|
| Industry | Artificial Intelligence |
| Founded | 2016 |
| Founder | |
| Headquarters | , |
Number of employees | 75-100 (2023) |
| Website | www |
History
editMind Foundry was founded in 2016 out of the Machine Learning Research Group[5] at the University of Oxford by professors Stephen Roberts and Michael Osborne.[6]
Mind Foundry received investment from Oxford Science Enterprises[7] and Parkwalk Advisors[8] in an initial seed round in 2016.[9][10]
In 2019 the company appointed Brian Mullins as its CEO.[11]
In 2020 the company raised $13.6 million investment in a Series A round that was led by Aioi Nissay Dowa Insurance Company Ltd (ANDI), part of the MS&AD Insurance Group.[12] Other investors in the series A round included Parkwalk Advisors, Oxford Sciences Innovation, the University of Oxford, and the Oxford Technology and Innovations EIS Fund.[13]
In February 2023 it was announced that Mind Foundry had launched a commercial research and development laboratory in Oxford in partnership with ANDI called the Aioi R&D Lab - Oxford.[14] The Aioi R&D Lab - Oxford "brings together experts from numerous disciplines to apply cutting-edge research on projects that solve global-scale issues affecting society today, and in the future."[15]
In 2023 Mind Foundry raised a further $22 million in investment in a series B round,[16] bringing the total amount the company has raised to date to $44 million.[17]
Mind Foundry and Aioi Nissay Dowa Insurance were named winners in the UK–Japan Partnership category at the British Business Awards gala by the British Chamber of Commerce in Japan in November 2023.[18]
References
edit- ^ "Stephen Roberts' Home Page". robots.ox.ac.uk. Retrieved 2023-09-20.
- ^ "About · Michael A Osborne". robots.ox.ac.uk. Retrieved 2023-09-20.
- ^ "Why generative A.I. isn't ready for "high stakes"". Fortune. Retrieved 2023-10-30.
- ^ Foundry, Mind. "AI For High-Stakes Applications. Responsible, By Design". www.mindfoundry.ai. Retrieved 2023-12-14.
- ^ "home - Machine Learning Research Group". robots.ox.ac.uk. Retrieved 2023-10-30.
- ^ "Oxford machine learning spinout unlocks big data insights | University of Oxford". www.ox.ac.uk. 2016-03-02. Retrieved 2023-12-14.
- ^ "Mind Foundry - Oxford Science Enterprises". www.oxfordscienceenterprises.com. Retrieved 2023-12-14.
- ^ "Mind Foundry". Parkwalk Advisors. Retrieved 2024-01-03.
- ^ "Oxford machine learning spinout unlocks big data insights". University of Oxford. 2016-03-02. Retrieved 2023-09-20.
- ^ "Dealroom". app.dealroom.co. Retrieved 2023-09-20.
- ^ Foundry, Mind. "Our Team At Mind Foundry". www.mindfoundry.ai. Retrieved 2024-01-03.
- ^ "Oxford spin-out Mind Foundry raises $13.6 million to develop AI platform for insurance providers". Tech.eu. 2020-11-09. Retrieved 2023-09-20.
- ^ "Oxford Technology & Innovations EIS Fund (OTIF)". Oxford Investment Consultants. Retrieved 2023-10-30.
- ^ "Mind Foundry launches first-of-its-kind lab to build AI-powered future of insurance". The Business Magazine. 2023-02-22. Retrieved 2023-09-20.
- ^ "New R&D Lab opens in Oxford to apply AI to global scale issues". eng.ox.ac.uk. Retrieved 2023-10-30.
- ^ "This AI Startup Helps Insurers Spot Cognitive Decline in Older Drivers". Bloomberg.com. 2023-10-17. Retrieved 2023-10-18.
- ^ Nowacki, Igor (2023-10-17). "Mind Foundry Raises $22 Million to Use AI in Insuring Older Drivers". TS2 SPACE. Retrieved 2023-12-14.
- ^ "BBA 2023 Winner Profile: UK–Japan Partnership – Aioi Nissay Dowa Insurance and Mind Foundry". British Chamber of Commerce in Japan. Retrieved 2023-12-14.