Literal Labs Raises £4.6M Pre-Seed Round to Develop Energy-Efficient Logic-Based AI Worldwide

Gritstone leads £4.6m investment in Literal Labs – Northern Financial Review

Newcastle University spinout firm Literal Labs, the logic-based AI algorithm company led by ex-Arm VP Noel Hurley, announced that it has raised £4.6 million in pre-seed funding. The round was led by Northern Gritstone, the investment firm focused on science and technology enabled businesses in the North of England, and co-led by Mercuri, the London-based fund focused on companies at the intersection of media, entertainment and technology sectors…

Literal Labs in funding for energy-efficient logic-based AI models

Sustainable, logic-based AI models are orders of magnitude faster, more energy-efficient, and more explainable than current neural networks. The post Literal Labs in funding for energy-efficient logic-based AI models appeared first on eeNews Europe.

Literal Labs raises £4.6m for logic-based AI

... edge computing tech. The company intends to use the investment to bring its first commercial product to market and grow its engineering team ...http://dlvr.it/TL7m7r

Jobs boost as tech firm gets £4.6 million backing

A technology firm has pledged to create jobs in an inaugural product rollout after securing £4.6 million support. Literal Labs has been backed in a Northern Gritstone-led funding round. Bosses say the cash will increase engineering team numbers and support the Newcastle-headquartered artificial intelligence algorithm company’s principal commercial launch later this year. Co-founded…

Northern Gritstone backs Newcastle AI spinout Literal Labs

Northern Gritstone has led a £4.6m seed investment into Newcastle University spinout Literal Labs. Literal Labs, led by ex-Arm executive Noel Hurley, is an AI algorithm company that uses logic-based techniques to generate custom AI models. It marks Northern Gritstone’s first investment linked to Newcastle University. Co-founded by Dr Alex Yakovlev and Dr Rishad Shafik, Literal Labs applies the Tsetlin machine approach to AI that is faster, expla…