The latest advances include the launch and first cohort for Deeptech Labs (DTL), a new post-seed accelerator aimed at deep technology startups, Honeywell’s quantum computing division’s merger and up to $300m investment in Cambridge Quantum Computing and the potential acquisition of local tech champion Arm by US-based artificial intelligence (AI) chip maker Nvidia following the blow-out flotation of cybersecurity champion Darktrace.
DTL is backed by Arm and the University of Cambridge as well as venture capital firm Cambridge Innovation Capital (CIC, the “unicorn factory” at the heart of the city), its chairman Ewan Kirk (founder of hedge fund Cantab Capital Partners), and local industrial conglomerate Marshall’s corporate angel fund, Martlet Capital.
Its inaugural cohort that runs to a demo day on 18 June it has made investments in five machine learning and data science companies: AutoFill, BKwai, Circuit Mind, Contilio and Mindtech.
Zara Riahi, CEO and co-founder of Contilio, said “We are building the world’s first 3D AI analytics platform used by global construction companies and asset owners. To accelerate the next phase of our growth, we were looking for a scaling partner that understood deeptech and had access to the best advisers, deeptech investors, and global operators. The people who have been in the trenches. We are delighted to have found an amazing one in Deeptech Labs.”
These startups receive £350,000 (about $500,000) and a structured three-month development programme, including mentors from Arm, CSR, Imagination Technologies, Analysis, Active Hotels, Arieso, Blinkx, Cloudamize, Focal Point, Riverlane and Ubisense. Its second cohort will start in September and include a delegation of investors from the GCV Symposium being held on 3-4 November.
Miles Kirby, CEO of DTL, who has also been inventor and holder of more than 30 patents and former founder of Allianz-backed AV8 Ventures as well as European managing director of Qualcomm Ventures, said: “This ambitious, new 13-week seed to series A programme is designed to enable deeptech startups to leverage the best minds in this space.”
Andrew Williamson, the managing partner at CIC, added: “Cambridge is one of the best places in the world to build a deeptech business, with access to best-in-class talents, exceptional intellectual property, and experienced entrepreneurs and investors. Deeptech Labs enables a new generation of entrepreneurs to access this ecosystem. As a cofounder, CIC has been delighted to support Miles and his team in shaping the vision. This is a very high quality first cohort and we look forward to working with them in the future and supporting their growth.”
Adam Bastin, vice-president of corporate development at Arm, said: “From Arm’s earliest days in a barn just outside the city, to its position as a global technology leader headquartered here today, Cambridge has remained a critical hub of talent, creativity and innovation. In co-founding Deeptech Labs, we are pleased to support the next generation of game-changing technology companies by helping them to access the world-class Cambridge technology ecosystem.”
To apply to join the investor delegation to Cambridge on 1 November ahead of the GCV Symposium on 3-4th, please contact: JMawson@mawsonia.con
Editor’s note: Jeff Herbst from Nvidia co-chairs the Global AI Council – latest quarterly report here, CIC is a sponsor of the GCV Symposium and delegation to the city and ARM is an expected host.
