Mind Foundry, an AI company that spun out of the University of Oxford’s Machine Learning Research Group (MLRG), has raised an additional $13.6 million in Series A funding.
With the new funding, the company has raised a total of $24.4 million to date.
The funding round was led by Aioi Nissay Dowa Insurance (ANDI) of the MS&AD Insurance Group and includes funding from existing investors Parkwalk Advisors, Oxford Sciences Innovation, the University of Oxford, and the Oxford Technology and Innovations EIS Fund.
Mind Foundry aims to create a future where humans and AI work together to solve the world’s most important problems.
After a successful project with ANDI’s UK subsidiary, Insure The Box Limited (ITB), ANDI now plans to make the Mind Foundry platform a core part of their digital transformation strategy across their businesses.
According to the company, this investment is part of a partnership that will accelerate Mind Foundry’s growth in this rapidly evolving industry.