London-based Artificial Intelligence Engineering (AIE) software platform, Monolith AI has been awarded £8.5 million in a Series A funding round. The software uses the latest techniques in machine learning to help significantly improve the product development process.
Including this latest funding round, the overall investment raised by the company is £10.6 million. The investment will allow the company to grow its international client base, continue to develop its groundbreaking 3D machine learning technology that accelerates product development workflows through virtually predicting product performance.
“Deriving insight from data for decision-making is a complex but necessary challenge for engineering organisations,” Dr Richard Ahlfeld, CEO and founder of Monolith AI said. “Engineers understand the data, they are embedded in the business and have the intuitions necessary to know why to process and model data. Democratising Al, by empowering engineers to be self-sufficient in building and deploying Al solutions, helps engineering organisations drive digital transformation more efficiently than other currently available solutions.”
The company’s mission is to democratise machine learning for product development by building intuitive coding free software that empowers every engineer to understand, predict and optimise products dramatically faster using artificial intelligence algorithms. The business works with clients such as BMW, Honda, BAE Systems and Siemens.