| BrainnwaveCompanies | Edinburgh firm combining data exploration, visualisation and machine learning to help companies make decisions.augmented business intelligenceKey facts Customers William Grant & Sons, Aggreko, Metropolitan Thames Valley (2021-11); plan to add 100 roles (2021-11) | Edinburgh | uktech.news/news/edinburgh-augmented-intelligenc | one source |
| Codeplay SoftwareCompanies | Software company now owned by Intel; the lead says it builds compilers and tools that let AI and other programs run on many kinds of chip (not verified here). acquiredcompilers | Edinburgh (Alex's Places file; not verified) | Companies House · find-and-update.company-information.service.gov. · find-and-update.company-information.service.gov. | one source |
| Malted AICompanies | Makes small, task-specific AI language models for businesses by distilling the outputs of large models.developer toolsProfile- Founded
- 2023 (UKTN)
- Founders
- Iain Mackie — co-founder and CEO
- Chief executive
- Iain Mackie — from 2023
- Hq
- Edinburgh (Scotland)
- What it does
- A "distillation" platform that turns the output of large language models into smaller, tailored AI models for a firm's own tasks, which it says cost less to run.
- Products
- distillation platform for small, task-specific language models — 2024
- Customers named
- null ("piloting its small language models with financial and legal firms", 2024-05)
- Rounds found
- 2023 — Pre-seed — 1m GBP — Creator Fund — null; 2024-05-15 — Seed — 6m GBP — Hoxton Ventures — Creator Fund, angels (already DEAL-LB-124 / DEAL-RG-001)
- Status now
- Active per existing record; no 2025–2026 page opened this round.
- Confidence
- single_source
- Founded (Labs Round 8)
- 2023 (founders met at the University of Glasgow in 2019)
- Founders (Labs Round 8)
- Iain Mackie — founder and CEO; Carlos Gemmell — founder and Chief Scientist; Federico Rossetto — founder and Chief Architect
- Chief scientist or research lead
- Carlos Gemmell — Chief Scientist
- Other leaders
- Ewen Fleming — Chief Commercial Officer; Sandy Nairn — Chairman; Matt Davies — Head of Engineering; Rachel Young — Head of Operations; Jack Merriman — Head of Forward Deployment; Jim Croft — Head of SRE
- What it does (Labs Round 8)
- Malted builds small, specialised language models by distillation for financial services. Its platform analyses every customer call, chat and email at banks, building societies and wealth managers to find signals about customer outcomes and to give evidence to regulators (Consumer Duty).
- Research focus
- Small language models for specific tasks and proprietary distillation methods; information retrieval, conversational AI, reasoning with external tools.
- Models and products
- Malted platform — analysis of 100% of customer interactions — not stated; Pulse — product named in a customer testimonial — not stated; specialised small language models — built by distillation — not stated
- Customers or partners named
- Scottish Building Society — customer testimonial (Paul Denton, CEO) — not stated — https://malted.ai/; Skipton Building Society — customer testimonial — not stated — https://malted.ai/; Openwork — customer testimonial (Rob Barker, CEO) — not stated — https://malted.ai/
- Funding total as published
- Not stated (company page: £1m raised in 2023, £6m in 2024)
- Rounds found (Labs Round 8)
- 2023 — first round — £1m — not stated — not stated; 15 May 2024 — seed — £6m — Hoxton Ventures (already DEAL-LB-124 / DEAL-RG-001 / DEAL-LAB-2016)
- Awards and programmes
- Sequoia F100 Rising Star (date not stated); Tech Nation Future Fifty (date not stated); founders' Amazon Alexa Prize challenge win (2021)
- Status now (Labs Round 8)
- Trading; sells specialised AI to UK banks and building societies, with named customers.
Labs Round 7 and Labs Round 8 deep profile (30–31 Oct 2026), as the researchers wrote it; confidence: one source. Sources - malted.ai/company
- malted.ai/
Models and products (1)- Malted Platform (specialised small language models) — (launch date not stated) live (product)Malted AI's system that uses small, specialised language models to analyse customer calls, chats and emails for financial services.
| Edinburgh | Companies House · uktech.news/ai/malted-ai-funding-20240515 · find-and-update.company-information.service.gov. · find-and-update.company-information.service.gov. · technation.io/unveils-latest-cohort-of-tech-scal | verified |
| Research Data ScotlandNetworks, bodies, events and media | Not-for-profit funded by the Scottish Government that helps researchers and policymakers reach public-sector data.public-sector data accessKey facts Joined The Data Lab partnership programme (2023-10) | Scotland | thedatalab.com/news/forth-point-rds-partnership- | one source |
| Smart Data FoundryNetworks, bodies, events and media | Edinburgh not-for-profit data organisation; the lead says it gave researchers safe access to financial data for analysis and AI. In administration since August 2026. wound_down | Edinburgh (EH3 9EF) | Companies House · find-and-update.company-information.service.gov. · find-and-update.company-information.service.gov. | one source |