Spectra Analytics is an Artificial Intelligence (AI) software firm. They are building the world’s first ‘AI Factory’, with a conveyor belt of new AI based products. The factory is built upon their scalable AI platform that allows them to rapidly develop, deploy and manage AI products.
These new AI products are being developed in collaboration with their partners – businesses with expert domain knowledge and established market presence – who are delivering them to market.
This disruptive new business model allows them access deep-domain knowledge, develop AI products with an identified market, sell to an existing customer base, and scale their business through revenue shares in a diversified range of products. It benefits their partners by de-risking the AI development and providing access to a world class AI team.
Spectra are currently partnering to develop four products:
Spectra Analytics was established in 2014 by researchers from the Centre for Complexity Science at the University of Warwick, Dr Marcus Ong and Dr Dan Sprague. Spectra has grown consistently since launch, doubling their revenues this year and last, and expanding their highly talented team to 10. They have built a diversified client base with strong partnerships and demonstrated a track record in product delivery and managed services, completing more than 30 AI projects.
Customers include: British and Dutch Armies, the US Marine Corps, NHS organisations, Google/GFT, Advanced, and the government of Madrid.
Spectra were awarded funding from InnovateUK to support a £0.5m project to develop the technology underlying the AI Factory. It has also received funding from InnovateUK for a £1m project to develop PATCHS in collaboration with the NHS and the University of Manchester. These projects will be completed over the next 6 and 18 months respectively. Their other focus is on scaling their other products in collaboration with their partners.
Spectra are forecasting a turnover in excess of £2m in 20/21 as their products start to scale. To accelerate their time to market they plan to conduct a seed funding round in Q2 2020. This will allow them to expand their technical and partner support teams.
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