Propagator Ventures invests in Axiomatic_AI

Axiomatic_AI, founded by a team of leading researchers from the Massachusetts Institute of Technology (MIT), the Institute of Photonic Sciences (ICFO), and the University of Toronto, is a venture capital-funded startup that spun out of MIT in 2024. Their core innovation is a new AI model called Automated Interpretable Reasoning (AIR) which aims to accelerate engineering and scientific discovery by providing correct and verifiable answers to physics and mathematics questions.

"Simply put, Axiomatic_AI's model can be considered a ChatGPT for research and development purposes, and the company’s ambition is a tenfold increase in science and engineering productivity by 2030. There is significant interest in Axiomatic_AI among several venture firms, and Propagator being the second largest investor is in many ways a testament to the fund’s position as an attractive investor and partner for leading deep tech companies," says Anders Frøseth, founder and largest investor in Propagator Ventures.

Experienced funds on board

Axiomatic_AI was founded by a team of leading professors within quantum computing, AI, chemistry, and computer science. The founders' collective ventures are valued at over $3 billion.

In addition to Propagator Ventures, Kleiner Perkins has invested a significant amount in Axiomatic_AI. The renowned venture fund has a significant track record in the technology segment and has previously served as an early-stage investor in Google, Amazon, and Slack.

"From the first conversations, it became clear that Propagator Ventures shares our understanding of the impact that generative AI will have in science and engineering, and they share our values to develop this potential for the good.  We’re therefore thrilled to launch this voyage with the Propagator team onboard in Axiomatic_AI’s seed round led by Kleiner Perkins." says Dirk Englund, co-founder of Axiomatic_AI.

Third investment in PV Fund 2

Since 2019, PV Fund 1 has invested in eight deep tech companies in the US, Canada, UK, Denmark, and Norway. Propagator Ventures invests in early-stage companies on the path to commercialization. Out of the eight companies, seven have raised an additional $300 million funding at higher or equal valuations compared to previous fundraise.

Propagator Ventures is currently launching PV Fund 2, with Axiomatic_AI marking the third investment, following investments in Koala Tech and Intrepid Labs. PV Fund 2 has a target size of €50 million.

"The portfolio companies from our first fund have shown solid progress, and the incredible pace of development we observe in the deep tech segment provides a solid flow of interesting investment opportunities. We are already pursuing several interesting investment cases and are simultaneously in ongoing conversations with investors that want to be a part of PV Fund 2. We are convinced that deep tech companies will be pivotal in solving key global challenges in the years to come, and consequently significant financial returns will follow," says Andreas Emblem from Propagator Ventures.