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Built AI closes £2m for commercial property analysis platform

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Proptech startup Built AI has closed a £2m seed round for its commercial real estate analytics platform. Built AI uses natural language processing – a subset of AI – to extract key data from property brochures uploaded by users. The startup says this information can help commercial real estate investors save time when assessing properties. The platform can then use this data to create a business plan with estimated rates of return for potential investments. The London-based startup was co-founded by Firoz Noordeen, Natan Lempert and Jeffrey Ng.


A day in the life of an AI startup founder PitchBook

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In this regular series, we're speaking to various players in the private equity and venture capital spaces--including startups, investors and noteworthy dealmakers--to see what daily life looks like for them. This week we talked to Tom Strange (pictured), founder of artificial intelligence startup Constellation AI. What does a typical day look like for you? Ideally, I would target to get up somewhere in the region of 5:15 am to 5:30 am and would start the day with some rituals and routines, which I do for around an hour. These involve certain breath patterns, which are yoga-inspired, journaling and essentially activities that will get me in the right state to go about my day.


Founders Factory has hired an ex-Imperial machine learning guru to support its startups

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Founders Factory, a company that aims to create and scale startups, has hired former Imperial College London researcher Jeffrey Ng as its chief scientist. At Founders Factory, Ng -- who has cofounded several of his own software companies, including visual search and image recognition recognition company Cortexica Vision Systems -- will help to develop new artificial intelligence (AI companies, while also providing support to AI companies on the Founders Factory accelerator programme, such as Iris.AI and illumr. In an email to Business Insider announcing the hire, Founders Factory touted Ng's expertise in big data, natural language processing, computer vision and deep learning deployment of AI platforms. "Building and accelerating new startups in six diverse sectors opens up exciting new ways to apply AI," said Ng in a statement. "It's the energy and vibrancy of the Factory that's the main draw for me, coupled with the chance to open up the AI toolbox to bring new products to life."


Today in stalking British AI startups: The Chinese are coming

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British AI talent is about to be given a boost after Founders Factory, a company specialising in growing startups, announced today that it will receive a "multimillion pound" investment from a top Chinese private equity firm. CSC Group is one of China's largest private equity firms, specialises in tech investment, and has previously pumped 400m into AngelList, an US startup accelerator. Now, the firm is turning its attention to the UK. CSC has agreed to a five-year deal with Founders Factory to invest in and scale five AI startups and co-create two new companies every year. "The partnership will build a bridge between AI talent in Europe and China; giving Founders Factory startups access to the Chinese market and Chinese talent the opportunity to enter the European tech ecosystem," Founders Factory said.


easyJet will invest millions in tech startups with Founders Factory

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The airline is the sixth corporate backer of the startup hot house created by renowned entrepreneurs Brent Hoberman and Henry Lane Fox - both of Lastminute.com fame - with the ambitious goal of creating 200 successful startups over the next five years. That will include investing in and helping scale five early stage startups each year, as well as co-founding two companies itself. "Connecting the talented easyJet team with the next generation of disruptive entrepreneurs will only continue to drive fresh thinking and uncover new opportunities," said easyJet chief executive Dame Carolyn McCall. Hoberman added: "We are confident that together we can support the next generation of innovators in travel leveraging digital scale, data, personalisation, virtual reality, artificial intelligence (AI), ecommerce breakthroughs and fintech." It joins five other corporate backers working with Founders Factory, including Aviva for fintech, L'Oreal for beauty technology and a deal with China's CSC inked just last week to foster startups working on AI. "easyJet coming into Founders Factory as our sixth and final corporate investor represents a critical milestone," said Henry Lane Fox. "With some of the leading brands and audience owners in the world as investors, we are able to execute on our vision of exploiting new emerging technologies to redefine industries." It has also done deals with Holtzbrinck publishing group in the area of education and the Guardian Media Group in media.


Founders Factory lands multimillion pound investment to nurture AI startups

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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."


This AI Engine Takes Common Biases Out Of The Venture Capital Process

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Venture capitalists pride themselves on their ability to pick winning ideas and winning people. But could artificial intelligence do a better job? Founders Factory, a U.K. startup accelerator, has developed an AI platform that identifies high-potential entrepreneurs. The hope is to avoid the unconscious bias that normally privileges some demographic groups and backgrounds, and prevents others from getting ahead. "I was interested in getting around the bias of selection, that if you've gone to a good school or university, you probably have a good network and a good chance of doing fairly well," says Tom Bowles, who created the software.


This AI Engine Takes Common Biases Out Of The Venture Capital Process

#artificialintelligence

Venture capitalists pride themselves on their ability to pick winning ideas and winning people. But could artificial intelligence do a better job? Founders Factory, a U.K. startup accelerator, has developed an AI platform that identifies high-potential entrepreneurs. The hope is to avoid the unconscious bias that normally privileges some demographic groups and backgrounds, and prevents others from getting ahead. "I was interested in getting around the bias of selection, that if you've gone to a good school or university, you probably have a good network and a good chance of doing fairly well," says Tom Bowles, who created the software.