PolyAI, a London-based AI startup specializing in voice assistants for call centres, has secured $50 million in a Series C funding round. Led by Hedosophia and NVentures, the VC arm of NVIDIA, the round boosts the company’s valuation to nearly $500 million. PolyAI, spun out from the University of Cambridge in 2017, lists high-profile clients like Volkswagen, Marriott, and Caesars Entertainment. Despite high operating costs contributing to a loss of £10.9 million for the year ended January 2023, the startup’s revenue was almost £3 million, with 70% coming from US companies. This funding follows positive developments in the UK’s AI sector, including significant investments and the opening of Scale AI’s European headquarters in London.
Artificial Intelligence, Customer Service Technology, Venture Capital,United Kingdom, United States