# Mind Foundry

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mind-foundry

- Industry: Software
- Headquarters: Oxford, UK
- Website: www.mindfoundry.ai
- Total disclosed funding: $46M
- Latest round: Series B (Nov 11, 2022)
- Investors on record: 3

## About

Mind Foundry Limited is a UK-based technology firm that develops responsible AI solutions for critical applications in industries such as insurance, defense, and infrastructure, ensuring ethical and scientifically grounded implementations.Founded in 2015 in Oxford, UK, Mind Foundry Limited specializes in responsible AI solutions. The company was co-founded by Michael Osborne and Stephen Roberts. Recent funding included a Series B round in November 2022, where the firm raised GBP 17.92 mn from investors including Aioi Nissay Dowa Insurance and Oxford Sciences Enterprises. The company has completed a total of 5 deals and is currently valued at GBP 121.43 mn.Mind Foundry specializes in the development of responsible AI solutions tailored for high-stakes applications across various sectors, including defense, national security, infrastructure, and insurance. The core product, the Mind Foundry Platform, allows organizations to design, test, and deploy trustworthy AI systems. The company serves clients in Europe, North America, and Asia, focusing on ethical AI practices in regulated environments to enhance decision-making and operational efficiency.In the most recent fiscal year 2023, Mind Foundry generated revenue of GBP 7,517,917.30, with an EBITDA of GBP -7,363,520.10, reflecting the company's ongoing investment in its AI platform and services.Following its Series B funding round in November 2022, Mind Foundry will utilize the GBP 17.92 mn to expand its AI tools specifically for the insurance industry. The firm is targeting new geographic markets to enhance its offerings, although specific regions have yet to be disclosed. The funding will support product development and market penetration, aimed at establishing a stronger presence in sectors requiring reliable and accountable AI solutions.

## Funding rounds

- Series B, Nov 11, 2022, $21M — Aioi Nissay Dowa Insurance, Parkwalk Advisors, Oxford Sciences Enterprises
- Series A, Oct 30, 2020, $14M — Aioi Nissay Dowa Insurance, Parkwalk Advisors, Oxford Sciences Enterprises
- Seed, Mar 8, 2019, $6M — Parkwalk Advisors
- Seed, Sep 6, 2017, $3.4M — Parkwalk Advisors, Oxford Sciences Enterprises
- Seed, Feb 10, 2016, $1.7M — Parkwalk Advisors, Oxford Sciences Enterprises

## Investors

- Parkwalk Advisors (https://capitalatlas.ai/funds/parkwalk-advisors) — Seed, Series A, Series B
- Oxford Sciences Enterprises (https://capitalatlas.ai/funds/oxford-sciences-enterprises) — Seed, Series A, Series B
- Aioi Nissay Dowa Insurance — Series A, Series B