Investment enables innovative Durham AI company to expand
Inspiration
Durham based gliff.ai has received another 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 £375,000 investment means the company, which develops tools to support the creation of Artificial Intelligence (AI) for healthcare and life science applications, can expand its team to a total of ten employees, including seven PhDs.
gliff.ai is a spin-out of Durham University’s computing department. The company, previously called Intogral Ltd, originally concentrated on developing its own medical diagnostic products using AI but this latest investment will allow the business to expand further into the leading edge of data science. The company’s plans are to double in size every year with the ambition to recruit and retain the best graduates from across the North East region and internationally.
Bill Shepherd, gliff.ai’s CEO, said: “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 reliant on AI, which is only as good as the data used to create it. Our products will make AI safer and easier to use.”
Rick Charnley, Northstar Ventures Investment Manager, added: “We’ve been impressed by the team and the vision since their launch in 2018 and are pleased to continue to support its 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 in the region while providing quality jobs in the North East.”