Nisien.AI, a pioneering Welsh artificial intelligence start-up based in Cardiff, has received investment from the British Business Bank’s £130m Investment Fund for Wales via Foresight Group and the Development Bank of Wales, in a joint investment.
Founded less than two years ago by two Cardiff University academics, Professors Matt Williams (Criminology) and Pete Burnap (Data Science, AI), Nisien.AI uses scientifically informed cutting-edge technology to detect and respond to online harms, such as online conflict, to support healthy debate and conversations.
The investment comes just over a year since the Investment Fund for Wales was launched in November 2023, by the government-backed British Business Bank, to boost the supply of early-stage finance to small and medium-sized businesses across Wales.
Nisien.AI, which already has 14 employees, is working with key customers ranging from the top five social media platforms to global brands.
The new investment will enable the company to continue to innovate and scale, making key hires and accelerating R&D to develop and bring to market novel and disruptive products, like its maiden revenue-generating product “HERO Detect”, which deploys AI algorithms to accurately detect and classify harms across online platforms in real time.
In addition to identifying and responding to online harms, the company is also working on new AI products based on emerging scientific evidence on ‘what works’ in building cohesive integrated online spaces. These distinctive products address user/customer retention issues on social media platforms and brand channels, by using a non-censorship approach that protects freedom of expression.
These products will support content moderation and longer-term healthy online conversation and community integration. This functionality is essential given the polarising debate around issues of freedom of speech, where the current option to censor content is sub-optimal for users, platforms and brands.
Alongside the investment, Foresight has introduced an experienced Chairman, Tony Stockham, to the business. Tony has worked with Foresight in the past to scale technology businesses and was formerly both an academic and successful entrepreneur in the field of AI.
The founders, who are taking on the roles of Chief Science Officer (Williams) and Chief AI Officer (Burnap) at Nisien, will also remain employees of Cardiff University. They are supported by senior industry hires, including Lee Gainer, former CFO of Wealthify who has joined as CEO; Dean Doyle, former Head of Delivery at HateLab, who has joined as Chief Operating Officer; and Rhodri Hewitson, former Principal Engineer at AM Digital, who has joined as Head of Engineering.
