Plural invests in London-based startup Olix

Venture capital firm Plural invested in London-based startup Olix. The $220M round was led by Hummingbird Ventures. Other investors include Vertex Ventures, LocalGlobe, and Entrepreneurs First. Thanks to the new funding, Olix's valuation exceeded $1B, making it another European AI-based unicorn.

Olix Computing Ltd. is a British company that develops an optical digital processor with new memory and interconnect architecture that is compatible with existing artificial intelligence models. Olix expects to begin shipping chips to customers in 2027. The company was founded in 2024 by James Dacombe. 

Founded in 2022 by Estonian entrepreneurs Sten Tamkivi, Taavet Hinrikus, Ian Hogarth, and Khaled Helioui, Plural focuses on leading early-stage rounds between €1M and €10M. In 2023, a new partner, AI-driven biotech HelixNano founder, and VC investor Carina Namih joined Plural. The fund has its own rule that requires all of Plural's partners to make personal co-investments in the deals they lead.

Hummingbird Ventures is a global venture capital firm that invests in a wide range of technologies, including blockchain, software as a service, fintech, healthcare, biotechnology, gaming, deep tech, hardware and software, and telecommunications. It was founded in 2010. 

Vertex Ventures is a venture capital firm specializing in investments in early-stage companies. The company was founded in 2010. Vertex Ventures has offices in the US, China, Israel, India, and Southeast Asia.

LocalGlobe is a venture capital fund based in London (UK). It was founded in 1999 by Robin and Sol Klein. The fund invests in early-stage startups in various sectors, such as information technology, media, mobile technology, FinTech, and transportation. 

Entrepreneurs First (EF) is an international talent investment company that supports people in creating technology companies. It was founded in the UK in 2011 by Matt Clifford and Alice Bentinck.