by David Prior
A Manchester-based AI software provider has secured a $3m investment boost.
Founded in November 2017, Mindtrace’s mission is to deliver ‘brain-inspired’ AI solutions which improve the accuracy of artificial intelligence models and reduce time to deployment.
The funding round was led by Skylake Capital, Bloc Ventures and existing investor Mercia Asset Management.
Mindtrace will use the cash to accelerate its product roadmap and bolster go-to market capabilities, including strategic partnerships.
Following the investment Marcos Battisti, general partner at Skylake Capital, and Michael Dimelow, chief commercial officer at Bloc Ventures, have joined the company s board of directors.
Battisti said: Mindtrace is a true innovator in a rapidly emerging new market dynamic. The company has developed a platform offering a unique combination of capabilities which include few-shot learning and federated learning.