Versed AI is a University of Cambridge spin-out and ex portfolio company of Cambridge Enterprise Ventures. This successful exit follows an remarkable four-and-a-half-year journey that has accelerated Versed AI into the market leader of AI-driven supply chain data mapping.
Born out of the University of Cambridge’s Language Technology Lab, Versed AI’s artificial intelligence technology accelerates the process of extracting and aggregating multi-tier supplier networks, creating automated bills of material and generating proprietary value chain graph data. The integration of Versed AI into Exiger’s award-winning supply chain management platform allows Exiger customers to rapidly expand multi-tier visibility with access to unrivaled advancements in supply chain tracing, orchestration and mapping.
Versed AI’s Co-Founder and CEO, Fenella Boyle, highlighted:
“After surveying the competitive landscape, we feel strongly that our technology will have the greatest impact when deployed within Exiger’s market-leading AI and across their vast and rapidly growing customer base.”
Brandon Daniels, CEO of Exiger, commented:
“This acquisition allows us to offer a beautifully simple solution to those challenges.”
This amazing story started when Dr Simon Baker, a postdoctoral researcher at the Department of Theoretical and Applied Linguistics, and a fellow PhD student from Institute for Manufacturing, University of Cambridge developed technology based on Natural Language Processing (NLP) and Machine Learning (ML) to resolve the potential blind spots to serious risks companies have in global, complex supply chains.
In 2019, they won first place in our Postdoc Business Plan Competition by showcasing their technology’s ability to ingest large amounts of data and derive knowledge from it, winning over the judges. Additionally, they were recognized as one of Gartner’s “Cool Vendors” in Sourcing and Procurement Technologies for their innovative use of AI, natural language processing, and machine learning to enhance visibility into multi-tier supplier networks. Furthermore, the company was chosen for KPMG’s competitive Future Tech Program and SAP.io Foundry for Digital Supply Chain.
We’ve championed their journey all the way, from support to win Innovate UK funding from Emma Salgard Cunha and Dr Gillian Davis in our Tech Transfer team, to investment management from James Thomas and Chris Gibbs in Cambridge Enterprise Ventures, to name just a few.
Read here to find out more about the acquisition of Versed AI.
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