Machine Discovery, an Oxford, UK- and Santa Clara, CA-based software company that uses machine learning technology to accelerate compute-intensive optimization and simulation tasks, raised £4.5 million in funding.
The round was led by BGF and East Innovate, alongside Foresight WAE Technology Funds, UK Innovation and Science Seed Fund (UKI2S), independently managed by Future Planet Capital (Ventures) Ltd, and Oxford Technology.
BGF, established in 2011 as the Business Growth Fund, is an investment company that provides growth capital for small and mid-sized businesses in the UK and Ireland. BGF’s early-stage team focuses on investments across life sciences, climate & sustainability and deep tech.
Founded in 2021, East Innovate is a venture capital firm that prefers to make investments in technology companies. The firm's thesis-driven approach focuses on four technology areas: 1) advanced power; 2) future materials; 3) advanced automation; and 4) space and communications.
Machine Discovery Use of Funds
The company will use the funds to grow its engineering and business development teams in the UK and the USA, driving commercial adoption of its technology across the semiconductor design space and in other markets.
About Machine Discovery
Led by CEO Bijan Kiani and Non-Executive Chair Janet Collyer, Machine Discovery is a University of Oxford spin-out commercializing new machine learning technology. The company's AI platform offers the ability to manage complex collaborative projects across large teams with a high number of simulation runs. The platform's novel emulation technology creates, from conventional simulation outputs, neural-network-based models for real-time prediction. The platform's optimization engine uses AI algorithms for optimization and sampling and combines simulation and neural-network model outputs to enable the exploration of a significantly larger design space at record speed.
Company: Machine Discovery, Limited
Funding Month: September 2023
Lead Investors: BGF and East Innovate
Additional Investors: Foresight WAE Technology Funds, UK Innovation and Science Seed Fund (UKI2S), and Oxford Technology
Company Website: https://machine-discovery.com/
Software Category: Simulation Management Platform