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A Caerphilly-based artificial intelligence (AI) firm has received a six-figure investment as it looks to build on its recent growth.

Academii, which is based on Caerphilly Business Park near Van Road, was set up in 2019 and has grown eight-fold in the last two years as demand for AI surges.

The firm, which uses AI to improve workplace training, has now received £700,000 from the Development Bank of Wales – which it will use towards developing its platform further.

Its platform is already used by large scale employers in the energy and utilities sector, NHS organisations, and health boards, as well as internationally.

The investment will also go towards growing Academii’s team and retaining highly-skilled jobs.

This is the second investment by the Development Bank in Academii, having previously backed it during its early stages. That previous investment was led by lead investor Andrew Diplock and included £185,000 in match funding.

Steve Lanigan, CEO of Academii, said: “Our previous relationship with the Development Bank means we understand the difference they make to the growth of a business.

“As a Welsh B-Corporation, rooted in Wales, wanting to do the right thing for Wales, we really value their emphasis on supporting the broader societal good. Our focus is on helping everyone to be part of the AI journey, supporting job creation and retention for all.”

Andy Morris, senior investment executive at the Development Bank of Wales, said: “Academii is a standout example of a Welsh technology company using AI for business and public benefit.

“Their platform is already helping major employers improve skills, strengthen workforce resilience, and unlock new opportunities. We’re proud to continue supporting their growth and to help ensure that Wales remains at the forefront of AI‑driven innovation.”

Jack Sargeant, the Welsh Government’s skills minister, said the investment “shows how Welsh businesses are leading the way in AI innovation”.

He continued: “We have recently invested £2.1m to help small businesses across Wales adopt AI ethically, and access high quality AI training to bridge skills gaps and boost productivity.

“Companies like Academii, which have benefitted from investment through the Development Bank, will play a vital role in helping people and organisations across Wales develop the skills they need to thrive in the future economy.”