OctaiPipe and nine other startups chosen from a pool of 200 applicants to join Intel Ignite’s UK 12-week accelerator programme
Startups selected have raised an average of £3.5 million in funding
Since 2019, Intel Ignite has facilitated over £2 billion ($2.5bn) in funding for deep tech startups
London, UK – 25/04/2024 – OctaiPipe, an edge AI platform for Industrial IoT, has been named as one of ten startups selected to participate in Intel Ignite’s Spring 2024 cohort. The highly competitive selection process saw OctaiPipe and nine other startups chosen from a pool of 200 applicants to join the intensive 12-week accelerator programme.
The Spring 2024 cohort, launched on April 24th, 2024, marks the second iteration of the programme in the UK, following its successful launch last Autumn. Since its inception in 2019, Intel Ignite has facilitated over £2 billion ($2.5bn) in funding for deep tech startups, enabling them to enhance their valuation, refine their fundraising strategies, and achieve significant strategic impact in their respective industries.
The startups selected have demonstrated exceptional potential and innovation in various fields, spanning cross discipline technologies for developing, deploying and utilising AI, through to next generation super energy-efficient compute, data storage and display technologies. Collectively, these startups have raised an average of £3.5 million in funding, demonstrating strong commercial traction and investor confidence.
Eric Topham, CEO and co-founder of OctaiPipe, said: “We’re delighted to be one of the few startups selected for Intel Ignite’s 12-week accelerator programme. This opportunity will allow us to leverage Intel’s expertise and resources to accelerate our growth and further address the critical need to train, deploy, and manage on-device Federated Learning at scale”.
Ofer Shayo, Managing Director, Intel Ignite London, commented: “AI has, of course, been dominating the conversation in tech, but maximising the value of this powerful technology requires finding applications for it that can contribute to solving some of the world’s biggest problems. And that’s exactly what the startups in this cohort are doing, whether that be through developing medical devices that provide diagnoses in seconds, making software more secure, or increasing the energy efficiency of next-gen compute, devices and data centres.”
Tzahi (Zack) Weisfeld, VP & GM at Intel Ignite said: “The UK is one of the strongest startup and VC markets in the world, and we are excited to kick off our second cohort there, after launching the UK program last fall.These 10 companies are set to join and support the tech ecosystem in the UK as they grow and develop their go-to-market strategy, and we could not be more excited to work with them during the 12-week program, and hopefully beyond that for many years to come.”
About OctaiPipe
OctaiPipe is a end-to-end Edge AI platform optimised for creating, deploying, and managing machine learning solutions in critical infrastructure environments. Deployments on OctaiPipe are more affordable, secure, scalable, and resilient for on-device intelligence due to its advanced on-device Federated Learning capabilities, as well as innovative edge MLOps technology.
With its cost-efficient, accelerated and federated AI, OctaiPipe is removing the common barriers to market while maximising security and privacy, and minimising Cloud dependency and Cloud costs. OctaiPipe is headquartered in London, UK and is funded by a portfolio of investors including SuperSeed, Forward Partners, D2, Atlas Ventures, Growceanu Angel Investment, Kinled Holding, Martlet Capital, Gelecek Etki VC and Arm-backed Deeptech Labs.
About Intel Ignite
Launched in 2019, the Intel® Ignite program supports founders whose goal is to change the world for the better using disruptive technology. The 12-week program focuses on all aspects critical to the success of early-stage startups. Global business and technology leaders individually mentor the startups to further accelerate their growth and enable them to successfully realize their breakthrough ideas. The Intel Ignite accelerator program for startups has seen 176 companies participate to date globally, in its programs in Europe, Israel, UK and the US. For information, visit https://intelignite.com.
