NYON, SWITZERLAND: The Rewired robotics-focused venture studio has sold its stake in London-based enterprise machine learning company Seldon. Rewired first backed Seldon during its Seed fundraising in August 2017 and has recouped a 148% return on investment (36.7% annualized) by selling its shares during Seldon’s latest Series A fundraising.
Rewired says that it remains optimistic about the future of London as a cluster for world-leading artificial intelligence and machine learning innovations. The Rewired exit from Seldon coincides with investors including Cambridge Innovation Capital and Albion Capital injecting £7.1m of new funding into the Shoreditch-based firm in a sign of confidence in the UK artificial intelligence sector.
Laurent Bischof, Board Director at Rewired, said:
“On this occasion we have played our role in building a business with global potential, and the right decision is to exit this investment into the hands of other capable investors who are committed to continuing to build a world class company. The new funding that Seldon has just closed is testament to the strength of the business going forward.”
Philippe Erwin, Special Advisor at Rewired, said:
“Rewired is committed to being actively involved in our global portfolio of investments across machine learning, robotics and the technologies of the AI economy. With our very high levels of liquidity, we continue to privately back growth-stage AI and robotics ventures worldwide.”
Rewired is a robotics-focused venture studio and investment fund based in Switzerland that was established in 2017 to invest in the technologies that are enabling artificial intelligence to become omnipresent across the global economy. Rewired is a closed private fund with backers including the Kohli Ventures investment vehicle. The private portfolio includes robotics, machine learning and smart sensor technology ventures in the UK, Europe and USA.
Seldon is a machine learning (ML) deployment specialist that provides enterprises with tools to manage, serve and optimise ML models at scale. An established name in the open source sphere with three million installs so far, Seldon is partnered with industry leaders such as AWS, Google, and IBM. Seldon’s customers include AstraZeneca, Alibaba, Capital One, and Comcast, along with several other listed Fortune 100 and FTSE 100 companies.
Posted on: November 20, 2020