Manchester-based Mindtrace raises $3 million to grow enterprise AI software

mindtrace tech.eu
Annie Musgrove

Annie Musgrove

annelise@tech.eu

Mindtrace, a Manchester startup building AI software solutions for enterprise, has raised a $3 million investment led by Skylake Capital, with participation from Bloc Ventures and existing investor Mercia Asset Management.

Founded in November 2017, Mindtrace’s mission is to deliver ‘brain-inspired’ AI solutions. CEO Hoon Chung says the company’s Brain-Sense™ technology stands out because it “minimises the need for large amounts of labeled data and allows for faster learning and more intelligent AI that adapts to changing real-life conditions.”

This funding will accelerate the UK startup’s product roadmap and go-to market activities, including strategic partnerships. Marcos Battisti of Skylake Capital and Michael Dimelow of Bloc Ventures have joined the board of directors.

Photo: the Mindtrace team

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