The vehicle chaired by Lord O'Neill is investing more than £3m into Opteran, a University of Sheffield spin-out which has harnessed insect brain patterns to pioneer developments in autonomous machines, Sky News learns.
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"We expect Opteran Natural Intelligence to become the standard solution for autonomy anywhere on the ground or in the air, on any machine, large or ultra-small, because it combines such sophisticated natural brain capabilities in a lightweight, efficient package." Duncan Johnson, Northern Gritstone chief executive, said:"Opteran Technologies is exactly the kind of company that Northern Gritstone was created to support.
Other investors in the funding round included IQ Capital, Seraphim, Episode 1 and Schauenburg Ventures. "We don't often see companies with a vision and product of this magnitude, and it is clear to us that Opteran Natural Intelligence will be the differentiator for every sector implementing autonomous systems in machines.For Northern Gritstone, the Opteran deal will be the first of dozens likely to be struck in the coming years as it looks to aid the commercial growth of some of the brightest start-ups emerging from universities in Yorkshire, Lancashire, Cheshire and the north-east.
"By investing in Northern Gritstone, asset managers are directly buying into the brightest prospects for Britain's future economy," Lord O'Neill said recently.