Secondmind

Secondmind

A cloud-based decision-making platform powered by AI.

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Valuation: €0.0

139.8x EV/Revenue

-4.0x EV/EBITDA

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€14.6m

Valuation: €94.3m

21.8x EV/Revenue

-11.3x EV/EBITDA

Late VC
Total Funding000k

Financials

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Revenues, earnings & profits over time
GBP2017201820192020202120222023
Revenues0000000000000000000000000000
% growth---300 %(24 %)83 %37 %
EBITDA0000000000000000000000000000
% EBITDA margin--(3480 %)(765 %)(773 %)(264 %)-
Profit0000000000000000000000000000
% profit margin--(2920 %)(745 %)(809 %)(307 %)(155 %)
EV0000000000000000000000000000
EV / revenue00.0x00.0x00.0x00.0x00.0x00.0x00.0x
EV / EBITDA00.0x00.0x00.0x00.0x00.0x00.0x00.0x
R&D budget0000000000000000000000000000
R&D % of revenue---14 %20 %16 %-

Source: Company filings or news article

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More about Secondmind
Made with AI
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Founded in 2016 and headquartered in Cambridge, UK, Secondmind operates at the intersection of artificial intelligence and automotive engineering. Initially known as PROWLER.io, the company was established by Aleksi Tukiainen, Dongho Kim, and Vishal Chatrath, with Gary Brotman later taking the helm as CEO to pivot the company's focus. The firm initially developed a broad 'decision engine' but strategically shifted to concentrate on the automotive sector, recognizing the industry's profound need for AI-driven optimization in vehicle design and development.

Secondmind's core business revolves around its software-as-a-service (SaaS) platform, providing cloud-native optimization solutions for automotive engineers. The company generates revenue by offering its advanced machine learning tools to automotive original equipment manufacturers (OEMs) and suppliers. This business model is centered on helping clients reduce design simulation time, minimize calibration overhead, and accelerate the development of more sustainable vehicles. The company has secured significant funding, totaling over $40 million, from investors including Amadeus Capital, Atlantic Bridge, Cambridge Innovation Capital, and a strategic partnership with Mazda Motor Corporation.

The company's flagship product is the Secondmind Optimization Engine, which is fueled by a proprietary technology called Secondmind Active Learning. This technology is designed to make accurate predictions from small volumes of data, which can reduce data requirements by up to 80% and simulation needs by 20%. The platform offers specific products like 'Secondmind for System Design' and 'Secondmind for Calibration'. 'System Design' allows engineers to automatically discover and visualize feasible design options early in the development process, while 'Calibration' helps create precise control strategies and calibration maps by integrating engineering expertise with machine learning models. These tools connect with existing simulation software and utilize cloud computing to explore complex design spaces, analyze trade-offs, and identify optimal solutions, ultimately speeding up time-to-market for new vehicles.

Significant milestones for Secondmind include a multi-year strategic partnership with Mazda to accelerate vehicle design and development. The company has received numerous accolades, such as the "AutoTech AI Innovation of the Year" in 2023 and the "Alternative Powertrain Test Innovation of the Year 2024". It was also selected for the Tech Nation Future Fifty scale-up program and named one of Bloomberg UK's startups to watch in 2024. With a growing global presence, including offices in Japan and the US, Secondmind is positioning itself as a key enabler in the transition to software-defined and carbon-neutral mobility.

Keywords: automotive engineering, machine learning optimization, vehicle design software, active learning, cloud-native solutions, system design automation, engine calibration, powertrain optimization, simulation time reduction, sustainable mobility, software-defined vehicle, automotive AI, model-based engineering, design space exploration, data-efficient learning, engineering simulation, AI for automotive, automotive R&D, advanced driver-assistance systems (ADAS), electric vehicle development

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