The follow-on investment complements $1.7m raised by Oxford data analytics spinout Mind Foundry in 2016 from investors including Oxford Sciences Innovation.
Mind Foundry, a UK-based big data analytics spinout of University of Oxford, has obtained an undisclosed amount of funding from Parkwalk Advisors’ Opportunities Fund.
Parkwalk Advisors is a fund management subsidiary of commercialisation firm IP Group.
Founded in 2016, Mind Foundry offers a software-as-a-service product that exploits machine learning and modelling algorithms to uncover insights from the masses of data held by enterprises and other organisations.
The software provides industrial, consumer and financial data intelligence with the aim of facilitating better decision-making processes and outcomes for Mind Foundry’s clients.
Mind Foundry’s co-founders are Stephen Roberts, professor of machine learning in information engineering, and Michael Osborne, associate professor in machine learning, who both work within the Department of Engineering Sciences.
The spinout raised an undisclosed sum in February 2016 from University of Oxford Isis Fund II, a co-investment vehicle managed by Parkwalk Advisors on behalf of the university’s tech transfer office, Oxford University Innovation.
Mind Foundry then disclosed a $1.7m seed round backed by university venture fund Oxford Sciences Innovation and unnamed private backers the following month, before adding another undisclosed sum in November 2017 from Parkwalk’s Opportunities Fund.
In addition to University of Oxford, Mind Foundry’s shareholders include third-party commercialisation vehicle Oxford Technology and Innovations EIS Fund.
