Twin Path Ventures, the UK’s leading and only dedicated pre-seed investor in AI-first startups, has received support from British Business Investments for its strategy to invest in UK-based tech founders building and launching innovative and novel AI powered solutions that solve big real world problems.
British Business Investments, a commercial subsidiary of the British Business Bank has committed to invest £10 million alongside Twin Path Ventures early-stage AI-focused investment fund and the fund’s existing angel and family office investors. This partnership will see British Business Investments contribute c.£3 million annually over the next three years, supporting Twin Path’s mission to drive innovation and growth in the UK’s AI sector.
Twin Path Ventures, led by experienced partners John Spindler, Nick Slater, and Katie Lockwood, is dedicated to backing transformative AI-first businesses across the UK. This funding from British Business Investments will enable Twin Path Ventures to invest c.£10m into 15 companies per annum, prioritising opportunities across all Nations and regions of the UK, both inside and outside of London, to foster regional economic growth and technological advancement.
Early beneficiaries of this investment include:
Sention – An East London based startup with a world-first innovation that combines advanced ultrasound technology and the latest in AI to offer manufacturers of batteries and fuel cells the ability to diagnose faults and accurately predict performance and future degradation rates at the design and production stage. The Bank’s investment has enabled Twin Path Ventures to lead a £3m seed investment in Sention alongside co-investor VCs from Europe, USA and Singapore.
Amply Discovery – A Belfast-based next-generation drug discovery platform that combines the latest in machine learning and synthetic biology to mine vast biological datasets to discover novel drugs. A spin-out from Queen’s University Belfast, Amply is tackling some of humankind’s greatest challenges such as cancer and multi-drug resistant infections.
Composo AI – A London and North West England startup with founders who previously worked at Graphcore and Quantum Black, Composo AI has built and is now presently deploying a simple to use, highly novel platform that enables domain experts, such as an engineer, lawyer or teacher, to train, test and evaluate the accuracy, safety and effectiveness of an application that is powered and built upon a Large Language Model. The Banks Investment enabled Twin Path Ventures to lead a £1m+ round.
Adam Kelly, Managing Director, British Business Investments:
“We are delighted to partner with Twin Path Ventures to champion the UK’s thriving AI ecosystem. This investment aligns with our commitment to supporting innovative early-stage businesses and driving economic growth across all regions of the UK. Twin Path’s expertise and focus on emerging AI technologies make them an ideal partner for this initiative.”
John Spindler, Partner at Twin Path Ventures, added:
“This partnership with British Business Investments marks a significant milestone for Twin Path Ventures as we continue to build on our mission of empowering AI innovators. Their support will enable us to expand our reach and impact, particularly in regions where funding gaps persist. We look forward to identifying and supporting the next wave of UK AI pioneers.”
“Twin Path Ventures has already made over 20 strategic investments in early-stage AI-first companies since its inception 18 months ago. This collaboration with British Business Investments will accelerate their ability to identify and nurture innovative ventures poised to make a global impact.”
Read the orginal article: https://ffnews.com/newsarticle/funding/british-business-investments-commits-10-million-to-twin-path-ventures-to-support-uk-ai-innovation/
