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Vidivet receives six-figure fund:AI investment

fund:AI (managed by River Capital) have made a six-figure investment into leading pet health-tech platform company Vidivet Limited.

Based in Liverpool, Vidivet have been named one of the UK’s Top 10 most exciting early-stage technology companies by Tech Nation and provides online vet triage services to pet owners all over the UK 24 hours a day, 7 days a week.

VidiVet was founded in March 2020 by experienced vet Ben Sweeney. The Liverpool-based business employs a team of 60, including a global team of vets who work remotely.

The app is redefining telehealth and providing enhanced operational efficiency and profitability to veterinary practices across the UK.

Vidivet are growing rapidly with a number of new B2B clients including entry into the lucrative pet insurance ecosystem.

fund:AI will support the business with not just capital but also AI expertise as the business embarks on a computer vision, IOT and deep learning journey designed to enhance the vet service and to further improve customer satisfaction levels.

The investment was led by David Walters of River Capital and was supported by Daniel Hayhurst of Brabners LLP and Mike McMahon of Trowers & Hamlins LLP.

Vidivet CEO Ben Sweeney commented:

Raising investment can be hard and many founders inevitably find it difficult to select the right partner to pursue their vision. From early meetings with the team at River Capital, it was clear that they not only understood what we have now but where we are going – which is of course critical.

We live in a time where people are excited but also fearful of AI so it is lovely to be able to share our journey with pet owners and to utilise AI and machine learning to fuel our learnings and evolution as a company.

fund:AI Investment Director David Walters commented:

We are delighted to support Ben and the team and are impressed with the work in building out a highly sophisticated technology platform and a strong client list. Ben is a great guy to work with too, his energy is infectious and he is genuinely open to our expert operational support.

Growth in the sector is strong and we look forward to supporting Vidivet to further diversify their B2B customer base.

Health-tech is an area that will benefit greatly through AI innovation and we see a real opportunity for the company to go on a high growth journey over the coming years supported by deep learning projects with specialist veterinary health innovation facilities and pharmaceutical partners.

About the River Capital EIS AI Fund ‘fund:AI’

fund:AI is the North’s first dedicated AI fund. Launched in November 2022 and managed from River Capital’s Liverpool head office, the fund is designed to support the North’s most promising AI and data companies. fund:AI is an evergreen fund deploying investments of up to £2m into EIS qualifying companies predominately in the North of the UK.

Drawing on AI operational expertise the fund is managed by Artificial Intelligence and Data industry experts and investors.