Thursday, 2024 February 22

Tencent leads investment in Cambridge-based AI company, an AI company from Cambridge, England has raised USD 24 million (RMB 166 million)  in funding at a USD 100 million (RMB 691 million) valuation, with Tencent leading the round, Bloomberg reports.

The startup develops decision-making software based on AI to help businesses across sectors, from supply chains and logistics, to finance. It previously raised USD 15 million in venture capital, and counts 110 employees. It wants to use the new funds to move into new sectors, such as education.

Pearson, the British-owned education publishing and assessment giant, also participated in the funding round, as did Mandatum Life, a Finnish asset manager and insurance firm, which has used Prowler’s software before.

Tencent says it may apply Prowler’s technology within some of its affiliated companies. In February, the Chinese tech giant said it had invested in over 700 companies in the past ten years, among which 63 are now listed, and 122 are valued at more than USD 1 billion.


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