Ramp, Signal AI and Brainomix Bag Funding

Sweet news in south England for a crypto payments firm, an AI platform for PR and communications, and an AI-powered medtech solutions company.

There’s a healthy mix of artificial intelligence (AI) and cryptocurrency activity with Ramp, Signal AI and Brainomix grabbing some tech funding in London and Oxford.

Six months after closing its Seed round, crypto payments firm Ramp has raised a $52.7 million (£39.5 million) Series A round, led by Balderton Capital.

Signal AI, a London-based AI platform for PR and communications, has raised its Series D round; a $50 million (£37.5 million) funding injection that brings its total investment to over $100 million (£75 million).

Over in Oxford, AI-powered medtech solutions company Brainomix has closed a series B financing round, raising £16 million to fund its expansion into new markets and new therapeutic indications, including lung fibrosis and cancer.

Ramp on the Rise

Ramp is based in Warsaw and London. It offers an SDK/API suite that lets companies’ users buy crypto straight from their app.

Existing investors NFX, Galaxy Digital, Seedcamp, Firstminute Capital also participated, alongside angel investors Taavet Hinrikus (Wise) and Francesco Simonesci (TrueLayer) in Ramp’s latest round. Its Series A funding will be used for product development.

The fintech firm says it is now a partner to more than 400 developers, including Mozilla, Browser, Dapper Labs, and crypto and DeFi apps like Aave, Argent, Trust Wallet and Zerion.

It’s keen on mentioning regulations and says it has got approval from the Financial Conduct Authority in the UK and the Financial Crimes Enforcement Network in the US.

According to Ramp, it has grown its transaction volume 30x while its headcount has grown three-fold in six months.

Signal AI Shows Strength

Signal AI offers a “decision augmentation” platform. Its funding round was led by Highland Europe with abrdn (formally Aberdeen Investments).

The company was launched eight years ago. It applies machine learning to data and turns it into “actionable insights” for businesses to make decisions. Signal AI has over 700 clients, 200 staff, and offices in London, NYC and Hong Kong. Clients listed on its site include BNP Paribas, Deloitte, Del Monte and Experian.

The firm explains: “Signal AI’s decision augmentation solution uses the world’s news, broadcast, blog and regulatory data to understand a decision maker or business’ context and extracts critical knowledge from these diverse sources.”

Its AI platform then delivers relevant knowledge through a SaaS interface, real-time alerts, dashboards and an API suite. Its data and insights are currently delivered to over 40% of the Fortune 500.

Signal AI will use this new funding to invest in R&D with a “huge push” on hiring ML and AI engineering staff. The firm has a focus on the US for its growth plans.

The Subtle Brainomix 

The brainy brigade at Brainomix explains that its financing was co-led by existing investors Boehringer Ingelheim Venture Fund and Parkwalk Advisors, along with new investor Tencent, and included participation from Oxford University Innovation Fund.

Alastair Kilgour, Chief Investment Officer at Parkwalk Advisors, comments: “Over the past decade Brainomix has created the market for stroke AI imaging. As a spin-out from the University of Oxford it is an example of the UK’s world-leading strengths in life sciences and AI-enabled medtech, combining expertise in clinical care and software development with more than 150 years’ experience in the field across its leadership team.”

Its e-Stroke platform has been deployed across the UK as part of an NHSX AI in Health & Care Award granted in 2020. It is also installed in “hundreds” of hospitals across Europe, the US, South America and Asia.

Over the years, Brainomix has formed a number of partnerships, including with Stryker Neurovascular in EMEA, Wallaby Medical in China, and the Angels Initiative, a global effort focused on stroke care improvement.

Antony Peyton
Antony Peyton
Antony Peyton is the Editor of eWeek UK. He has 18 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.
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