China

Tencent is bullish on British AI startup Prowler.io

©iStock/AndreyKrav

Chinese technology giant Tencent has led a $100m (£78.4m) funding round for promising British AI startup Prowler.io.

Dr Ling Ge, Chief European Representative at Tencent, said:

“The UK is a global leader in AI and is increasingly becoming a focus for companies looking to invest in the sector. PROWLER.io’s data-efficient approach and focus on human-machine teaming really set it apart.

We are looking forward to PROWLER.io applying its AI decision platform to a broadening range of customers, potentially including some of Tencent’s affiliate companies.”  

Prowler was founded in 2016 by engineers and mathematicians from Cambridge University. The startup aims to be an ‘AI platform for decision-making in a complex, dynamic, and uncertain world.’

Vishal Chatrath, CEO of Prowler.io, commented:

“Having initially focused on developing our AI platform, we are excited to be expanding our product offering into new verticals, underscoring the flexibility and innovative nature of our core technology.

We’re excited to be supporting global corporate and financial leaders like Mandatum Life, Pearson, RB Capital and Tencent with AI tools that enable people to make better decisions.”

Prowler.io launched its AI platform focusing on things such as managing supply chains and making decisions about financial portfolios. The company is now hoping to expand into new areas.

Lauri Vaittinen, SVP at Mandatum Life, a Prowler.io investor, added:

“Prowler.io is on its way to becoming a true enterprise AI platform — successfully expanding from its initial focus on financial services and logistics to apply its core AI technology to multiple adjacent market segments.

We are confident that the strategic partners, alongside the existing funding support, will help the company accelerate practical implementations – including hiring more engineering talent, operational managers, and reinforce the product development expertise.”

Founded in 2016, Prowler.io currently has 110 employees from 29 countries.

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