Kernel Capital leads £1.6m round for Automated Intelligence

The firm invested £750,000 from The Bank of Ireland Kernel Capital Growth Fund (NI), while private investors contributed the remainder. The fund makes four investments per year in SMEs in Northern Ireland to accelerate their growth. Its equity tickets range between £450,000-2m. Invest Northern Ireland committed £15m to the fund, which is also financed by the European Regional Development Fund under the EU Investment for Growth and Jobs Programme 2014-2020.

The fresh capital will go towards scaling Automated Intelligence's platform.

Previous funding
The company received non-equity assistance from investment network Pitch@Palace in 2016.

In 2017, the company received £1m in funding from The Bank of Ireland Kernel Capital Growth Fund (NI) and £500,000 from an existing private investor.

Company
Based in Belfast, Automated Intelligence has developed a data management platform called AI.DataLift, which allows customers to gain data insights. Founded in 2010, the company is also a Microsoft gold partner, working to deliver Microsoft products to the banking, professional services, utilities, healthcare and public sectors. The company employs 50 people, according to LinkedIn.

People
Kernel Capital – Benjamin McGuinness (investment executive).
Bank of Ireland – Niall Devlin (head of regional business banking NI).
Invest Northern Ireland – William McCulla (director).
Automated Intelligence – Simon Cole (CEO); Fergus McIlduff (CFO).

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