# MindTrace.ai

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

- Industry: Software
- Headquarters: Manchester, UK
- Website: www.mindtrace.ai
- Total disclosed funding: $5.2M
- Latest round: Seed (Jan 20, 2021)
- Investors on record: 5

## About

Based in Manchester, UK, and founded in 2017 by Kamelia Dimova and, Michael Denham, Mindtrace.ai is the developer of brain-inspired AI solutions. In 2017, MindTrace raised GBP 1.3 million in seed funding from new investors Accelerated Digital Ventures and Northern Powerhouse Investment Fund. In 2021, MindTrace.ai raised GBP 2.1 million in Seed funding led by new investor Skylake Capital, with participation from another new investor Bloc Ventures, and returning investor Mercia Asset Management.

The company uses Brain-Sense technology to improve the accuracy of artificial intelligence models and reduce the time of deployment. Mindtrace offers a platform powered by Brain-Sense™ AI technology that makes use of proprietary object representations and learning algorithms to deliver a combination of capabilities including FSL (few-shot learning) and federated learning. 

The company’s solution eliminates the need for big labeled data in machine learning thereby providing a combination of training datasets to feed the learning model in case of limited data scenarios. The company’s technology makes use of unlabeled data and few-shot incremental learning that provides appropriate results without having several training samples. The company’s solutions can be used in smart devices for photo enhancement, image indexing and organization, activity monitoring and recognition, and scene understanding among other uses as well as for manufacturing defects detection and infrastructure inspection. The company’s brain sense technology makes use of unlabeled data to train an initial model and then subsequently feed it with a small quantity of labeled data to enhance it before deployment. Through its brain-technology products, the company provides operational efficiency and better revenue generation opportunities to its users. 

Mindtrace aims to accelerate its product roadmap, go-to-market capabilities, and strategic partnerships.

## Funding rounds

- Seed, Jan 20, 2021, $3.5M — Mercia Asset Management, Bloc Ventures, Skylake Capital
- Seed, Nov 6, 2017, $1.7M — Accelerated Digital Ventures, Northern Powerhouse Investment Fund

## Investors

- Accelerated Digital Ventures (https://capitalatlas.ai/funds/accelerated-digital-ventures) — Seed
- Northern Powerhouse Investment Fund — Seed
- Mercia Asset Management (https://capitalatlas.ai/funds/mercia-asset-management) — Seed
- Bloc Ventures (https://capitalatlas.ai/funds/bloc-ventures) — Seed
- Skylake Capital (https://capitalatlas.ai/funds/skylake-capital) — Seed