Cambridge-based startup Signaloid has raised a Seed round of £3m led by IQ Capital.

The data platform will use the funding to scale operational capacity and take on larger customers and applications.

Additional investment has come from Type One Ventures and Creator Fun.

Founded by Phillip Stanley-Marbell, Signaloid’s technology is used in applications including materials modelling, autonomous systems, computational finance, machine learning and quantum computing.

Signaloid’s computing platform allows systems to automatically track variations in real-world data which get hidden by averaging when being fed to computers.

The company will use the funding to scale its engineering implementations, allowing it to take on larger customers with both more demanding workloads and with a greater number of applications running on Signaloid’s Compute Engine platform.

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The Signaloid Compute Engine is available to companies to integrate into their cloud-based or on-premises computing infrastructure.

Signaloid also provides a developer platform, allowing individuals to try out its technology and build their own applications, with several hundred developers already signed up.

Phillip Stanley-Marbell, founder and CEO of Signaloid, said: “We are excited about the opportunity which the investment will provide for Signaloid to accelerate the adoption of our platform.

“The investment will allow us to further strengthen the team in strategic areas and to scale the number of use cases of our platform, from the hundreds of signed-up users we have on our developer platform today, to a larger number of production deployments of our cloud-based and edge-hardware compute engine, by our customers.”

Ed Stacey, managing partner and co-founder of IQ Capital, said: “We’re delighted to be working with Signaloid on its pioneering approach for a new generation of computation infrastructure.

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“Their platform allows its customers to track uncertainties in data, and model probability distributions – all without any modifications to customers’ existing software, and in real-time. We’re excited to see how uncertainty quantification is becoming widely adopted in industry and finance, resulting in far better and more reliable end products.”

IQ Capital is a Cambridge-based venture capital firm that invests in UK deep-tech across sectors including machine learning, AI, engineering and materials, and data-focused propositions based on disruptive algorithms.

The IQ Capital team has achieved over 20 exits to date, to companies including Oracle, Google, Apple, Huawei and Facebook and several IPOs.