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SuperSeed is searching for business AI startups to back with £50m fund

SuperSeed fund
Image credit: SuperSeed

Seed-stage venture capital firm SuperSeed is looking for UK business automation startups to back with a fund that’s targeting a £50m close.

The London-based VC has so far raised £31m of its Fund II and plans to invest between £500,000 and £1.5m into 30-35 B2B software companies over the next three to four years.

Founded in 2018 by entrepreneurs Dan Bowyer and Mads Jensen, SuperSeed works with software startups to take them from Seed round to Series A.

Since the launch of its first fund in 2019, SuperSeed has backed 15 companies including Kleene.ai, Integrated Finance and ThingTrax.

SuperSeed works exclusively with B2B startups and is focused on companies using automation and AI to improve business processes.

It is looking for startups based in the UK and those looking to use it as a “springboard” to launch globally.

In addition to providing venture capital, SuperSeed assists startups in areas including sales, hiring and testing value propositions.

“In business and especially manufacturing, there’s so much that automation can improve,” said Mads Jensen, founder and managing partner at SuperSeed. “Which is why we expect it to be one of the biggest long term economic trends, even without the natural accelerant of a pandemic. Software lies at the heart of this opportunity.”

The SuperSeed Fund II received a cornerstone investment from the British Business Bank, a state-owned development bank created to improve funding for SMEs.

“Our cornerstone commitment to SuperSeed’s fund will help them to provide successful finance and support to early-stage, high-potential entrepreneurs and businesses,” said Ken Cooper, managing director of venture solutions, British Business Bank. “With this commitment, our total commitments to date through the ECF programme now exceed £1bn.”