Osborne Clarke Advises Literal Labs on £4.6 Million Pre-Seed Funding

"Osborne Clarke advised AI company Literal Labs on a £4.6m pre-seed round led by Northern Gritstone, co-led by Mercuri and with participation from Sure Valley Ventures. The funding will support growth of Literal Labs’ engineering team and the launch of its first commercial product."

Osborne Clarke advised AI company Literal Labs in its £4.6 million pre-seed funding round; the round was led by Northern Gritstone, co-led by Mercuri and included participation from Sure Valley Ventures. Literal Labs, based in Newcastle upon Tyne and led by former Arm VP Noel Hurley, develops logic-based AI algorithms that the company says are faster, more energy-efficient and more explainable than current neural network approaches. The company will use the funding to expand its engineering team and to bring its first commercial product to market. The funding round was led by science- and technology-focused investor Northern Gritstone, co-led by Mercuri, a London-based fund targeting media, entertainment and technology companies, with additional participation from Sure Valley Ventures. Osborne Clarke represented client Literal Labs with a team composed by: James Taylor (Corporate), Olivier Jacquelin, Senior Associate (Corporate), Shauna Poole (Corporate).

Osborne Clarke Advises Literal Labs on £4.6 Million Pre-Seed Funding

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