Decorte raises $585K from US and UK investors
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Decorte Future Industries Ltd (DFI), a Cambridge- and London-based company developing sound-to-health data Artificial Intelligence, announced this week that it closed an oversubscribed $585K pre-seed funding round in January, with participation of a number of prominent UK and US investors.
The company was chosen as one of ten for the Techstars London 2020 cohort, graduating the world-leading accelerator in December 2020. The US accelerator was the lead investor in the company’s pre-seed round, alongside a number of angels, which include two former CTOs of billion dollar companies. The company also secured two consecutive equity-free investments through Innovate UK, the UK government's innovation agency.
At the company’s core stands a unique Machine Learning approach, new to the commercial space, that allows the successful extraction of a host of biometric and vital signs from just sound.
The company has received wide-ranging interest from government departments (including an endorsement from an agency in the UK Ministry of Defence, as well as the confirmation of need by UK and US government entities), top 5 software companies, and healthcare providers.
Supporting the company are mentors from Google, Palantir and other tech giants.
Susan Standiford, CTO of IKEA at the time of investment, currently CPTO at Stepstone, writes:
“Roeland and the DFI team are doing extremely interesting things for convergence science - they’re inventing and creating capabilities that will have broad effects on health monitoring and robotics.“
Mike Muller, co-founder and ex-CTO of ARM, notes:
“I’m excited to see products and services that can help address the pressing problems of cost and quality in social care. These issues will only increase in the coming years with our changing demographics and pressure on health care budgets. Intelligent technology underpinned by Machine Learning is one of the few ways to address these challenges at scale.“
Eamonn Carey, MD of Techstars London, writes:
“I’m excited to work alongside such a great group of Techstars mentors and investors to support Roeland and the Decorte team as they grow and scale. [...] | can’t wait to see the results of their most recent tests.”
Dr Roeland Decorte, founder and CEO of DFI, commented:
“The round being oversubscribed meant we continued receiving multiple offers of investment beyond those accepted in the pre-seed, but for this initial round we were primarily concerned with assembling an amazing and varied team of tech and business champions with skin in the game. | am beyond excited about the group of investors and advisors we assembled, the ilk of which | think is unrivalled for a company at our stage. As we’re currently entering phase 2 of real-world testing, this team already has supercharged the company’s product development. Unlike what most people think, this technology is not something that ‘might happen’ in ten or twenty years, but rather we are seeking to bring a product to market before the end of 2021.”
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