Mind Foundry
Mind Foundry is a British artificial intelligence company developing AI systems for high-stakes applications.
Last updated August 25, 2026
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Overview
Mind Foundry is a British artificial intelligence company headquartered in Oxford, England. It was established in 2016 as a spin-out from the University of Oxford's Machine Learning Research Group by Oxford professors Stephen Roberts and Michael Osborne. The company was created to translate academic advances in machine learning into systems that can be applied to consequential operational and commercial problems. The company presents its work around the idea of AI for high-stakes applications. This positioning distinguishes Mind Foundry from consumer-focused AI brands and from general-purpose software providers: its systems are intended for settings in which decisions can affect safety, financial exposure, infrastructure reliability, national security, or other important outcomes. Its principal areas of activity are insurance, infrastructure, and defence and national security. Mind Foundry's early financing included investment from Oxford Science Enterprises and Parkwalk Advisors in a 2016 seed round. In 2019, the company appointed Brian Mullins as chief executive officer, giving the university spin-out an executive leader focused on commercial development. In 2020, it raised a Series A round led by Aioi Nissay Dowa Insurance Company Ltd, a member of the MS&AD Insurance Group. The round also included Parkwalk Advisors, Oxford Sciences Innovation, the University of Oxford, and the Oxford Technology and Innovations EIS Fund. The funding supported the company's continued development of applied machine-learning products and commercial relationships. Insurance became one of Mind Foundry's most visible areas of collaboration. Its relationship with Aioi Nissay Dowa Insurance developed beyond investment and in February 2023 led to the launch of the Aioi R&D Lab - Oxford, a joint commercial research and development laboratory in Oxford. The laboratory was established to bring together specialists from different disciplines and investigate applications intended to address large-scale societal problems. Mind Foundry subsequently raised a reported $22 million Series B round in 2023. According to the cited company history, this brought its cumulative fundraising to $44 million at that point. The same year, Mind Foundry and Aioi Nissay Dowa Insurance were recognised in the UK-Japan Partnership category at the British Business Awards organised by the British Chamber of Commerce in Japan. The recognition reflected the cross-border business and research relationship between the two organisations. Leadership changed again by June 2025, when Jiro Okochi was serving as chairman and interim chief executive. In January 2025, Mind Foundry was placed eleventh in The Times Tech 100, a ranking of fast-growing private British technology companies. It remains a privately held AI business associated with Oxford's machine-learning ecosystem, with its identity centred on research-led, explainable and operationally consequential applications rather than mass-market consumer products.
History
Mind Foundry was founded in 2016 in Oxford as a spin-out from the University of Oxford's Machine Learning Research Group. Its founders, Stephen Roberts and Michael Osborne, were professors working in machine learning at the university. The company was formed to carry research into commercial and operational settings, with an emphasis on applications where the consequences of automated analysis or decision support can be substantial. The business attracted early backing from Oxford Science Enterprises and Parkwalk Advisors in a seed round during 2016. This financing connected Mind Foundry to Oxford's technology-transfer and university-investment ecosystem while it developed its commercial proposition. Rather than presenting itself as a broad consumer technology company, Mind Foundry concentrated on what it described as AI for high-stakes applications. Its stated sectors became insurance, infrastructure, and defence and national security. In 2019, Brian Mullins was appointed chief executive officer. His appointment marked a leadership phase focused on building the company beyond its academic origins and establishing a larger commercial footprint. The company then secured a $13.6 million Series A investment in 2020. The round was led by Aioi Nissay Dowa Insurance Company Ltd, which is part of Japan's MS&AD Insurance Group. Other named participants were Parkwalk Advisors, Oxford Sciences Innovation, the University of Oxford, and the Oxford Technology and Innovations EIS Fund. The Aioi relationship developed into a research collaboration as well as an investment relationship. In February 2023, Mind Foundry and Aioi Nissay Dowa Insurance announced the Aioi R&D Lab - Oxford. The laboratory was described as a commercial research and development facility bringing together experts from multiple disciplines to work on advanced research and projects addressing global-scale issues affecting society. Its creation illustrated Mind Foundry's approach of combining specialist AI research with sector-specific partners. Mind Foundry raised an additional $22 million in a Series B round in 2023. The reported financing brought the company's total funds raised to $44 million by that point. The company and Aioi Nissay Dowa Insurance were also recognised in the UK-Japan Partnership category at the British Business Awards gala held by the British Chamber of Commerce in Japan in November 2023. This award highlighted the international dimension of Mind Foundry's development and the practical relationship between its Oxford base and a major Japanese insurance group. The company continued to receive recognition in the United Kingdom's private technology sector. In January 2025, it was ranked number 11 in The Times Tech 100, a list focused on fast-growing British private technology companies. By June 2025, Jiro Okochi was serving as chairman and interim chief executive, indicating a further change in executive leadership after Mullins's tenure. Across its documented history, Mind Foundry has remained a privately held, research-origin AI company. Its development has been shaped by three linked elements: academic expertise from Oxford, institutional and strategic investment, and partnerships with organisations that operate in sectors where prediction, risk assessment, monitoring, and decision support can have significant consequences. Publicly documented information identifies insurance, infrastructure, and defence and national security as its main fields, but does not provide a complete catalogue of individual commercial products or deployments.
- 2025
Ranked in The Times Tech 100
[1]Mind Foundry was placed eleventh in The Times Tech 100 ranking of fast-growing private British technology companies.
- 2023
Aioi R&D Lab - Oxford launched
[1]Mind Foundry and Aioi Nissay Dowa Insurance established a commercial research and development laboratory in Oxford.
- 2023
Series B financing
[1]The company raised a further reported $22 million, taking cumulative disclosed fundraising to $44 million.
- 2023
UK-Japan Partnership award
[1]Mind Foundry and Aioi Nissay Dowa Insurance won the UK-Japan Partnership category at the British Business Awards in Japan.
- 2020
Series A financing
[1]Mind Foundry raised a reported $13.6 million Series A led by Aioi Nissay Dowa Insurance Company Ltd.
- 2019
Brian Mullins appointed chief executive
[1]Brian Mullins became chief executive officer as the company developed its commercial operations.
- 2016
Mind Foundry founded as an Oxford spin-out
[1]Stephen Roberts and Michael Osborne founded the company from the University of Oxford's Machine Learning Research Group.
- 2016
Initial seed investment
[1]Oxford Science Enterprises and Parkwalk Advisors provided investment in the company's initial seed round.
Products and positioning
A research-led, Oxford-origin AI company focused on deploying machine learning in high-stakes environments, particularly insurance, infrastructure, and defence and national security.
Artificial intelligence software and applied machine learning
High-stakes AI applications
Mind Foundry's central offering is applied artificial intelligence for situations where predictions, assessments, or recommendations may influence safety, financial risk, infrastructure performance, or national security. Public reference material describes this as AI for high-stakes applications rather than identifying a single mass-market software product. The work is associated with research-led machine-learning systems developed for organisational and sector-specific use.
Insurance technology
Insurance AI applications
Insurance is one of Mind Foundry's three principal sectors. Its work in this area is connected to the company's relationship with Aioi Nissay Dowa Insurance and the wider MS&AD Insurance Group. The available reference material establishes the sector focus and research partnership but does not specify individual insurance products, product names, or customer-facing features.
Infrastructure technology
Infrastructure AI applications
Mind Foundry applies artificial intelligence and machine learning to infrastructure-related problems. The documented company description identifies infrastructure as a core sector, while the available sources do not provide a definitive list of named infrastructure products or deployments. The category reflects the company's stated focus on consequential operational environments.
Defence and national security technology
Defence and national security AI applications
Defence and national security are among Mind Foundry's principal operating sectors. The company positions its machine-learning expertise for high-consequence settings, but the supplied reference material does not identify specific defence products, contracts, deployments, or programmes. Accordingly, this entry describes the sector portfolio rather than a named product line.
Collaborative research and development · 2023
Aioi R&D Lab - Oxford
The Aioi R&D Lab - Oxford is a commercial research and development laboratory created jointly by Mind Foundry and Aioi Nissay Dowa Insurance. Announced in February 2023, it brings together experts from different disciplines to investigate advanced research and projects addressing global-scale societal issues. It represents a partnership platform rather than a conventional standalone software product.
Brand decisions
2023
Create a joint commercial research laboratory with Aioi Nissay Dowa InsuranceStrategyBackground
Mind Foundry had an established investment and commercial relationship with Aioi Nissay Dowa Insurance, a member of the MS&AD Insurance Group. The partners sought to apply multidisciplinary research to large-scale societal and business problems.
Action taken
The companies launched the Aioi R&D Lab - Oxford in February 2023, establishing a collaborative research and development facility in Oxford.
Aftermath
The partnership was later recognised in the UK-Japan Partnership category at the British Business Awards in November 2023.
2023
Raise Series B capitalOtherBackground
Mind Foundry continued to expand its research and commercial activities across insurance, infrastructure, and defence and national security.
Action taken
The company raised a reported $22 million in a Series B financing round.
Aftermath
The reported round brought total funds raised by the company to $44 million at that time.
Series B investment and cumulative funds raised. $22 million Series B; $44 million cumulative funding (2023)
Recent events
- 2025
Mind Foundry ranked eleventh in The Times Tech 100[1]
Other
Mind Foundry was listed at number 11 in The Times Tech 100, a ranking of Britain's fastest-growing private technology companies.
- 2025
Jiro Okochi serves as chairman and interim chief executive[1]
Leadership change
By June 2025, Jiro Okochi was identified as Mind Foundry's chairman and interim chief executive.
- 2023
Mind Foundry launches Aioi R&D Lab - Oxford with Aioi Nissay Dowa Insurance[1]
Other
Mind Foundry and Aioi Nissay Dowa Insurance announced a commercial research and development laboratory in Oxford to bring together multidisciplinary expertise for large-scale societal challenges.
- 2023
Mind Foundry raises $22 million in Series B financing[1]
Other
The company raised a further $22 million in a Series B financing round, bringing reported cumulative funding to $44 million at that time.
- 2023
Mind Foundry and Aioi Nissay Dowa Insurance win UK-Japan Partnership award[1]
Other
The two organisations were named winners in the UK-Japan Partnership category at the British Business Awards gala held by the British Chamber of Commerce in Japan.
Sources1 sources
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