Agxio Secures £2.1M for AI Expansion in New Markets
Agxio, a UK-based AI platform provider, has secured £2.1 million in a pre-Series A funding round. The company aims to use these funds to enter new markets, including AI, Agritech, and life sciences, and expand its operations internationally.
Founded in 2018 and led by CEO Dr. Stephen Christie, Agxio is based at the Aberystwyth Innovation and Enterprise Campus and Cambridge Science Park. The company's platform automates the role of data scientists and machine learning engineers, making AI more accessible.
The funding round, which took place in March 2022, was led by the Development Bank of Wales. Other investors included Mercia Technologies, Seneca Partners, and several private investors. Agxio plans to use the funds to scale its operations, enter new markets, and expand internationally.
Agxio has validated its platform across various industries and use cases, demonstrating its versatility and potential. With the £2.1 million investment, the company is well-positioned to continue its growth and make a significant impact in the AI, Agritech, and life sciences markets.
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