Aberdeen’s Leap Automation secures £7.9m investment to enhance AI-driven robotics.
- The funding is spearheaded by a £3.5m contribution from the Scottish National Investment Bank.
- Additional investments from Mercia Ventures and WA Capital supplement the financial backing.
- Leap Automation aims to tackle labour shortages in the UK food and drinks industry.
- The investment will facilitate headcount increase and product development for Leap Automation.
Aberdeen’s Leap Automation has successfully secured a substantial £7.9 million investment, with the primary contribution of £3.5 million originating from the Scottish National Investment Bank (SNIB). This financial endorsement is further bolstered by significant investments from Mercia Ventures and WA Capital.
Leap Automation is renowned for delivering robotic solutions tailored for the manufacturing sector, utilising artificial intelligence to enable automation accessible to companies of varying sizes. With the new investment, Leap Automation intends to initially focus its technological advancements on the food and drinks sector, a pivotal growth industry within Scotland and the broader UK economy. The sector faces pronounced challenges such as labour shortages, compelling firms to seek innovative production solutions.
In addressing these critical industry needs, Ben Stuart, the Chief Executive of Leap AI, articulated the company’s commitment to devising robotic systems that are simple, flexible, and economically viable for their customers. Stuart emphasised the urgency of these developments given that labour shortages reportedly cost the UK food sector over £1.4 billion last year. The newly acquired funds will enable Leap Automation to expand its workforce and enhance operational capabilities, facilitating the resolution of customer issues through ongoing product development.
According to Jane Reoch, Executive Director at SNIB, the alignment of Leap Automation’s objectives with SNIB’s mission plays a crucial role in this investment decision. Reoch noted the potential of the investment to not only foster skilled employment opportunities in the northeast but also catalyse a competitive and diversified economy through innovation.
Jonny Nixon, Investment Director at Mercia Ventures, expressed enthusiasm about Leap AI’s potential, particularly in the context of rising inflation and labour shortages exerting pressure on businesses. He posited that the technology Leap Automation offers could significantly enhance productivity across diverse market segments.
The recent investment round also witnessed continued financial support from existing backers such as Scottish Enterprise and Alba Equity, underlining sustained confidence in Leap Automation’s strategic direction and technological promise.
The significant investment in Leap Automation underscores the critical role of AI-driven solutions in addressing pressing sector challenges, thereby enhancing productivity and economic resilience.
