Company:Mind Foundry

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Short description: UK Artificial Intelligence Company
Mind Foundry
TypeScale-up
IndustryArtificial Intelligence
Founded2016
Founder
Headquarters
Oxford
,
United Kingdom
Number of employees
75-100 (2023)
Websitewww.mindfoundry.ai

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]

History

Mind 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][12]

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.[13] 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.[14]

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.[15] 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."[16]

In 2023 Mind Foundry raised a further $22 million in investment in a series B round,[17] bringing the total amount the company has raised to date to $44 million.[18]

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.[19]

References

  1. ↑ "Stephen Roberts' Home Page". https://www.robots.ox.ac.uk/~sjrob/. 
  2. ↑ "About · Michael A Osborne". https://www.robots.ox.ac.uk/~mosb/. 
  3. ↑ "Why generative A.I. isn't ready for "high stakes"" (in en). https://fortune.com/2023/02/24/aioi-nissay-dawa-mind-foundry-new-lab-oxford-insurance-generative-ai-high-stakes/. 
  4. ↑ Foundry, Mind. "AI For High-Stakes Applications. Responsible, By Design." (in en-gb). https://www.mindfoundry.ai/. 
  5. ↑ "home - Machine Learning Research Group". https://www.robots.ox.ac.uk/~parg/. 
  6. ↑ "Oxford machine learning spinout unlocks big data insights | University of Oxford" (in en). 2016-03-02. https://www.ox.ac.uk/news/2016-03-02-oxford-machine-learning-spinout-unlocks-big-data-insights. 
  7. ↑ "Mind Foundry - Oxford Science Enterprises" (in en-GB). https://www.oxfordscienceenterprises.com/portfolio/mind-foundry. 
  8. ↑ "Mind Foundry" (in en-GB). https://parkwalkadvisors.com/portfolio/mind-foundry/. 
  9. ↑ "Oxford machine learning spinout unlocks big data insights" (in en). University of Oxford. 2016-03-02. https://www.ox.ac.uk/news/2016-03-02-oxford-machine-learning-spinout-unlocks-big-data-insights. 
  10. ↑ "Dealroom". https://app.dealroom.co/companies/mind_foundry. 
  11. ↑ Foundry, Mind. "Our Team At Mind Foundry" (in en-gb). https://www.mindfoundry.ai/about-us. 
  12. ↑ Leigh, Dana (2023-06-28). "A Chat with Brian Mullins, CEO at Oxford University Linked AI Solutions Company: Mind Foundry" (in en-GB). https://techround.co.uk/interviews/a-chat-with-brian-mullins-mind-foundry/. 
  13. ↑ "Oxford spin-out Mind Foundry raises $13.6 million to develop AI platform for insurance providers" (in en-GB). 2020-11-09. https://tech.eu/2020/11/09/mind-foundry-series-a/. 
  14. ↑ "Oxford Technology & Innovations EIS Fund (OTIF)" (in en-GB). https://www.oxfordinvestmentconsultants.com/your-capital/oxford-technology-and-innovations-eis-fund-otif/. 
  15. ↑ "Mind Foundry launches first-of-its-kind lab to build AI-powered future of insurance" (in en-GB). 2023-02-22. https://thebusinessmagazine.co.uk/technology-innovation/mind-foundry-launches-first-of-its-kind-lab-to-build-ai-powered-future-of-insurance-2/. 
  16. ↑ "New R&D Lab opens in Oxford to apply AI to global scale issues". https://eng.ox.ac.uk/news/new-rd-lab-opens-in-oxford-to-apply-ai-to-global-scale-issues/. 
  17. ↑ "This AI Startup Helps Insurers Spot Cognitive Decline in Older Drivers" (in en). Bloomberg.com. 2023-10-17. https://www.bloomberg.com/news/articles/2023-10-17/ai-startup-mind-foundry-helps-insurers-spot-cognitive-decline-in-older-drivers. 
  18. ↑ Nowacki, Igor (2023-10-17). "Mind Foundry Raises $22 Million to Use AI in Insuring Older Drivers" (in en-US). https://ts2.space/en/mind-foundry-raises-22-million-to-use-ai-in-insuring-older-drivers/. 
  19. ↑ "BBA 2023 Winner Profile: UK–Japan Partnership – Aioi Nissay Dowa Insurance and Mind Foundry" (in en-US). https://bccjapan.com/news/bba-2023-winner-profile-uk-japan-partnership-aioi-nissay-dowa-insurance-and-mind-foundry/. 



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