The corporate team at Penningtons Manches has acted for DiffBlue Limited, an artificial intelligence start-up spun out of Oxford University on its £17 million Series A funding round. The round was led by Goldman Sachs Principal Strategic Investments, alongside Oxford Sciences Innovation and the Oxford Technology and Innovations Fund.
DiffBlue was founded by computer science professors Daniel Kroening and Peter Schrammel and develops ‘AI for code’ - technology which checks and corrects code. The DiffBlue team includes some of the world’s leading experts in computer verification and machine learning. The company automates many traditional coding tasks: bug fixing, test writing, finding and fixing exploits, refactoring code, translating from one programing language to another, and creating original code to fit specifications.
The Penningtons Manches team was led by senior associate Nick Richards and Reading-based partner Justin Starling. This multi-million pound deal further showcases the firm’s expertise in advising companies on growth capital deals, and in particular those associated with technologies developed at the UK’s leading universities.