Britbots launches second fund for UK robotics and AI start-ups

Companies can now apply for the second Britbots funding scheme

Britbots, an organisation that supports British robotics and artificial intelligence start-ups, has teamed up with Sapphire Capital Partners to launch a second investment fund.

It's working with the tax management firm to run its latest robotics and artificial intelligence fund, which follows the success of its 2017 programme.

The first Britbots funding scheme proved hugely popular among UK-based robotics firms, with the funds being ploughed into six high-potential start-ups.

Companies can now apply for 2018 funding from Britbots, which is "predominantly focused on Seed Enterprise Investment Scheme (SEIS) qualifying investment opportunities". The organisation said the fund delivers "the most significant tax benefits to investors".

While that may be the case, the organisation added that "there will be scope for the fund to make a number of investments under the EIS scheme when there are scale-up opportunities for existing portfolio companies".

Britbots is particularly interested in autonomous robots and machine learning systems

According to Britbots, the UK robotics industry is booming. It is looking to work with entrepreneurs and academics on exciting "high-value businesses that can deliver superior returns for investors".

The organisation said that it is providing support in "a climate where returns on listed investments are constrained". However, it believes that UK firms can benefit from the global adoption of robotics and AI technologies.

"Opportunities for significant investment returns in this sector are becoming widespread, with more than 50 robotics and automation companies being acquired over the last year, for a total consideration of more than £20 billion," said the firm.

The second fund will focus on "world-class entrepreneurs with global product opportunities". Britbots is particularly interested in autonomous robots and machine learning systems.

"Britbots meets with hundreds of businesses each year and has already earmarked a number of exciting businesses as potential investments for the fund," said the firm in a statement.

Dominic Keen, founder of Britbots, said: "I'm delighted to be able to launch our second robotics fund. It is the best way for an investor to get access to mixed basket of shares in the exciting robotics and AI growth companies that are shaping our economy for the decades ahead."

Thiago Azevedo, of ZOA Robotics, was a recipient of last year's fund. He said: "The British Robotics Seed Fund is unique in providing a specialist funding source for robotics entrepreneurs like myself.

"In addition to the investment provided, they've taken an active role in business, using their expertise to focus our strategy and execution."