Mindtech Global raised $3.25 million from Mercia, Deeptech Labs and In-Q-Tel participating

Mindtech Global, a Sheffield, UK-based SAAS developer of an end-to-end synthetic data creation platform for training AI vision systems, announced closing a $3.25 million funding round.

The money was raised from investors led by NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund (NPIF), with Deeptech Labs and In-Q-Tel participating.

The proceeds will be used to accelerate product development at its new engineering base in Sheffield UK and support its growing customer engagements across Europe, the US and Asia.

Mindtech, founded in 2017 and led bY CEO Steve Harris, developed Chameleon, an end-to-end synthetic data-creation platform used to unlock the massive machine-learning / AI opportunity, specifically helping computers understand and predict human interactions. Their customers use the tech in order to quickly build unlimited scenes and scenarios using photo-realistic smart 3D models - these are simulated and “filmed” creating fully annotated synthetic images that can be used to train AI vision systems and address diversity and bias issues. The datasets are privacy compliant and full data provenance is provided.