Durham AI company raises £375k ahead of plans to double in size
A Durham artificial intelligence company has announced that it has raised £375k in its latest investment round.
gliff.ai has received the round of investment from funds managed by Northstar Ventures, the North East Innovation Fund supported by the European Regional Development Fund and the newly launched Norther Accelerator Seed Investment Fund (NASIF).
The £375k investment will allow the company to expand its team, with plans to double in size every year.
Bill Shepherd, gliff.ai’s CEO, commented: “We are absolutely delighted that our Durham company can continue to grow at the global leading edge of technology innovation.
“The world is becoming more and more reliant upon artificial intelligence. AI is only as good as the data that is used to create it. Our products will make AI safer and easier to use.”
Rick Charnley, Northstar Ventures investment manager said: “We’ve been impressed by the team and the vision since their launch in 2018 and are pleased to continue to support their exciting growth with more investment from the North East Investment Fund and NASIF.
“The NASIF is aimed at showcasing and supporting the high quality companies spun out of North East universities and gliff.ai is a brilliant example of how innovative spin outs can expand globally while based here and providing quality jobs in the North East.”
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