Imandra Inc., a London, UK, Edinburgh, UK, and Austin, TX-based creator of a cloud-native automated reasoning engine, completed a $5m seed funding.
The round was led by AlbionVC, IQ Capital and LiveOak Venture Partners.
The company intends to use the funds to expand in both the US and the UK, with hiring of AI, engineering and product talent in Austin, London and Edinburgh.
Founded by Denis Ignatovich and Dr. Grant Passmore, who have both backgrounds in academic mathematics and financial trading, Imandra is an automated reasoning company applying deep advances in AI to the design and regulation of complex algorithms in finance.
Imandra, its industry-agnostic cloud-native automated reasoning engine, brings its “AI for algorithms” technology to mainstream software development at scale.
Current clients include top global investment banks who use the company’s solution for design, testing and ongoing audits of their complex trading systems.