Founders Factory lands multimillion pound investment to nurture AI startups

Founders Factory has received a multimillion pound investment from Chinese private equity firm CSC Group to help nurture AI talent in Europe and China. As part of the partnership, the accelerator and incubator launched by Brent Hoberman, Henry Lane Fox and Jim Meyerle, will invest in and scale five early stage AI startups and co-create two new companies a year. Founders Factory and CSC Group will work together to give AI startups access to the Chinese market and to import Chinese AI talent into the European tech ecosystem. Dania Zhou, CSC group senior managing director and CSC Union Co-Founder, commented on the news: "This is just the beginning of a long term relationship with Founders Factory; a relationship that will give us access to the best European talent through its unique model backed by other large corporate partners. The founding team has a great track record at building businesses; something we now want to do together with a focus on artificial intelligence."