London-based AI startup Emulate is currently in advanced negotiations to secure up to $700 million in new funding. According to reports, this investment round would bring the company's total valuation to $3.7 billion.
The company was incorporated in August by former DeepMind employees Jack Parker-Holder, Matthew McGill, and Philip Ball. The founders previously contributed to the development of Genie world models, which are capable of creating interactive 3D environments and videos from text prompts.
Emulate is the third AI laboratory to emerge from DeepMind’s London offices this year with significant venture capital backing. The startup has been operating in stealth mode while focusing on world models, a field that aims to replicate physical space.
The broader AI sector continues to attract substantial capital, as evidenced by the recent $1.1 billion funding round for Ineffable Intelligence, another startup founded by a DeepMind veteran. Investors remain focused on identifying high-potential research teams.
