Maven VCTs leads £3 million investment in Applied AGI

The Maven VCTs have led a £3 million funding round in Applied AGI, a business specialising in advanced artificial intelligence (AI) and machine learning technologies for real-world operational deployment in defence and security sectors. The funding round also includes investment from Maven Cognition, Maven’s specialist EIS Fund, and a syndicate of angel investors. 

Founded in 2019, Applied AGI has developed proprietary AI technology that enables defence and security systems to accurately detect, identify and track objects by analysing data from multiple sensors. Its software is designed to perform in challenging environments where visibility, available data or communications are limited.

To date, Applied AGI has grown without external equity funding and has generated more than £5 million in revenue through contracts with the UK Ministry of Defence and major defence contractors across Europe and the US.

The business is now entering its next phase of growth, with a strong pipeline of opportunities in the UK and overseas driven by the increasing adoption of AI across intelligence, surveillance and autonomous systems within the defence sector.

Maven’s investment will support the expansion of Applied AGI’s engineering team and accelerate the development of its next-generation technology from prototype to commercial deployment, while also strengthening its business development capability to help secure new contracts and support international expansion.

"We are delighted to welcome Maven as investors and partners as we move into the next stage of the company’s growth. This is an exciting time for the business and the Maven team’s belief in AAGI’s ability to transform Defence AI will help us to accelerate product deployment, take our technology to more customers, and extend our competitive position."

Dr Tom Girn, Chief Executive Applied AGI

“Applied AGI combines world-class technical expertise with a clear commercial opportunity in a rapidly evolving market. The technology’s ability to operate effectively in challenging environments, where conventional AI approaches can be less reliable, has the potential to create significant value for defence and security customers. We believe the business is exceptionally well placed to benefit from growing demand for trusted AI technologies and are delighted to support the next stage of its growth as the business scales.”

Luke Matthews, Partner at Maven