Peak:AIO in Manchester has raised £5m in a funding round led by Pembroke VCT.
The Manchester tech firm will use the cash to support the global expansion of its “high-performance, energy-efficient” software platform, already used by the NHS.
“AI has created demands that traditional IT was never designed to handle,” explained Mark Klarzynski, Co-Founder and CSO of PEAK:AIO.
“From the start we built PEAK:AIO to answer those challenges, and our success in the UK quickly led to adoption in the US. This investment is about more than growth, it is about backing a UK company that is setting new standards in AI infrastructure worldwide.”
The software platform has been designed to deliver faster, more efficient AI systems, to fix one of the data storage industry’s biggest issues – how information is stored and accessed.
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PEAK:AIO plans to grow its team and accelerate the development of the platform to meet demand from around the world.
“Every major technology wave exposes bottlenecks that hold back progress. In AI, that bottleneck is storage – GPUs sit idle while data crawls in. PEAK:AIO has built a solution from first principles that flips this equation, unlocking the full potential of AI infrastructure,” added Fred Ursell, Head of Investments at Pembroke Investment Managers.
“With a team that has repeatedly scaled and exited category-defining businesses, and early validation from some of the most complex customers in the world, we believe PEAK:AIO is positioned to be a critical enabler of the AI revolution.”
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Pembroke has invested £3.7 million, alongside NPIF II – Praetura Equity Finance which is managed by Praetura Ventures as part of the Northern Powerhouse Investment Fund II (NPIF II), and a Silicon Valley investor.
“Our NPIF II investment into PEAK:AIO comes at a very opportune time for the AI sector, with Google, Microsoft and Nvidia all announcing plans to invest tens of billions into the UK,” said Louise Chapman, NPIF II Fund Principal at Praetura Ventures, which is merging with Par Equity to form PXN Group (subject to FCA approval).
“Going forward, this news will create even bigger opportunities for companies such as PEAK:AIO, which has already been enjoying impressive traction to date – both in the UK and on a global scale. We’re now looking forward to being part of the company’s next chapter and supporting the team.”
The platform is used by the NHS, King’s College London, Zoological Society of London, and Los Alamos National Laboratory, a US Government research facility that received $5.24 billion in funding last year.
