Deeptech Labs, an incubator backed by Cambridge Innovation Capital, has announced its inaugural cohort of five startups that have each received $485,000.
Deeptech Labs (DTL), a UK-based deeptech incubator and fund backed by patient capital fund Cambridge Innovation Capital, has unveiled its first cohort of five companies: AutoFill, BKwai, Circuit Mind, Contilio and Mindtech.
Each company has received a £350,000 ($485,000) investment and are participating in a three-month programme that aims to grow startups from the seed to the series A stage, and that is set to culminate with a demo day this Friday.
The cohort has been given access to technology leaders from the Cambridge, UK ecosystem and internationally.
DTL is led by chief executive Miles Kirby, former managing director at insurance provider Allianz-backed venture capital firm AV8.
It is also backed by semiconductor company Arm as well as Martlet, the investment subsidiary of aerospace manufacturer Marshall of Cambridge, and DTL chairman Ewan Kirk.
Andrew Williamson, managing partner at Cambridge Innovation Capital, said: “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 co-founder, 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.”
The five companies have developed a range of machine learning and data science technologies. Autofill is working on a tool that automates daily vehicle inspection reports, while BKwai is working on a platform to provide insights to engineers in the construction industry.
Circuit Mind’s technology looks to allow engineers to design reliable, faultless, circuit boards in hours by tapping into artificial intelligence, high-performance computing and collaboration.
Contilio’s 3D artificial intelligence analytics platform is also aimed at the construction industry and helps to understand, predict and deliver complex projects cheaper, faster and more sustainably.
Finally, Mindtech has built a platform to create unlimited training data for artificial intelligence vision systems.