AI firm opens in Edinburgh with backing from Scottish Enterprise and Kelvin Capital
London-headquartered behavioural science and technology company KultraLab is to open a base in the Scottish capital after securing over £2m of funding from Kelvin Capital and Scottish Enterprise.
The firm, which uses AI to enable businesses to work out what the workforces of the future will look like, is creating up to 25 engineering and product development jobs as part of the move.
The firm’s founder and chief executive, Steve Baggi, said the aim of the organisation is to use data to help companies manage changes in the way people work, adding that opening in Edinburgh would enable it to scale up the business.
“Everything we do is driven by science and we focus closely on the consumer sector, where we have extensive and long-standing connections,” he said.
“With our new funding we are well placed to reach scale very quickly.”
Scottish Enterprise global investment director Mark Hallan says KultraLab’s decision to open in Edinburgh “underlines just why so many innovative companies choose to grow in Scotland”, noting that the business was attracted by the country’s “incredibly talented workforce and world-class universities”.
Business minister Ivan McKee added: “Businesses which invest in Scotland tend to stay in Scotland, and I hope KultraLab will be no different.
“Our unparalleled package of support for businesses and our Team Scotland approach ensures a route to a strong economy with good, secure and well-paid jobs.
“Scotland’s economic potential is huge, we want to establish ourselves as a nation with a culture that encourages, promotes, and celebrates activity in every sector of our economy.
“The Scottish Government is committed to supporting KultraLab, and other inward investors, to achieve their ambitions here, in strong alignment with our commitment to a wellbeing economy and prosperity for all.”