AI start-up Better Futures raises €500,000 in pre-seed round

27 Jun 2024

CEO and founder Anthony Mc Loughlin. Image: Better Futures

CEO Anthony Mc Loughlin, who founded the company last year, has previously worked with Airbus, Mercedes and Rolls Royce, helping them to adopt analytics and AI.

Better Futures, an AI start-up that has developed a virtual assistant for engineers and manufacturers, has secured €500,000 in funding.

The pre-seed funding round backed by unnamed angel investors will help Better Futures roll out EVA, a platform that enables engineers and manufacturers to adopt AI by removing some of the hurdles associated with uptake of the emerging technology.

The NovaUCD-headquartered start-up was founded last year by CEO Anthony Mc Loughlin, who has 15 years of experience combining areas as varied as business development, data science and even rocket science. He has worked with Airbus, Mercedes and Rolls Royce to help them adopt generative design, analytics and AI.

According to Mc Loughlin, the latest funding will help Better Futures roll out EVA in its initial target markets of Ireland, Germany and the UK. But the ultimate goal is to roll out the platform across the world, and to that end, he said the start-up is looking to close a seed round later this year.

“The adoption of AI into manufacturing and engineering is critically important for all our futures. It is happening but it is very niche and painfully slow. The good news is that with LLMs and the GPT breakthrough we can solve this problem and bring 10 times scale and acceleration to this important movement,” he explained.

“LLMs, as incredible as they are, are ‘just’ the engine. Engineers and manufacturers need dedicated ‘AI Assistants’ to solve their problems and that integrate into their complex ecosystems of expert knowledge, regulations, data and IT systems.”

Mc Loughlin said that Better Futures developed EVA to bridge and automate these gaps.

“To start we focused first on solving the most urgent problem, getting the 96pc of engineers and manufacturers from zero to a first AI successful deployment. We encourage engineers and manufacturing leaders to give EVA a try for free on our website, it is a unique different approach.”

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Vish Gain is a journalist with Silicon Republic