Mishcon de Reya has advised UK-based AI materials start-up Mater-AI on its £1.5 million pre-seed funding round and invested in the round through Mishcon PLUS. The round was led by Twin Path Ventures, with participation from One Planet Capital, XTX Ventures, the Conception X Angel Syndicate, Koro Capital and Tailored Solutions.
Mater-AI has created a platform that uses AI and physics-based modelling to quickly find new thermoelectric materials that turn waste heat into electricity or provide cooling without using refrigerants. The technology is designed to be more efficient, cost-effective and scalable than traditional methods.
The company is initially focusing on thermoelectric generators for defence, automotive and industrial IoT applications. The technology could help power defence systems quietly, make batteries last longer, and allow sensors to run themselves for monitoring machinery and infrastructure.
Founded by Dr Nickel Blankevoort (CEO), Gatleen Bhambra (COO) and Chelsea Williams (CTO), Mater-AI builds on research conducted by Dr Blankevoort at the University of Warwick in theoretical modelling of quantum nanoelectronics and thermoelectrics. Mater-AI has established partnerships with Cambridge University, Imperial College London and the Henry Royce Institute to validate its materials in the lab and scale towards commercial applications. The funding will accelerate R&D and team growth.
Gatleen Bhambra, Co-Founder & COO of Mater-AI, said: "Mishcon de Reya provided excellent support throughout the round, clear, responsive, and highly competent from start to finish. Andrew and Kunal took a pragmatic approach and made complex steps feel manageable, which we really valued. We’ve built a genuinely strong relationship with them, and we’re proud to call Mishcon our lawyers. It also means a lot to have a firm of this calibre believe in our vision and join us on the cap table through Mishcon Plus. We look forward to continuing to work together as the business grows."
Andrew Wolfin, Partner at Mishcon de Reya, commented: “We’re delighted to have supported Mater-AI on this milestone round. Their technology has the potential to transform energy efficiency and unlock new applications across multiple sectors. It’s a privilege to work with such ambitious and talented founders. We're looking forward to working with Gatleen and the team going forward.”
Dan Sinclair, Partner at Mishcon de Reya: "Mishcon PLUS was designed to complement the advice we provide to fundraising clients. We are proud to have been able to participate in the round and to partner with Mater-AI as they scale their platform and bring transformative thermoelectric solutions to the market."