News & Insights
Oxford Technology & Innovations EIS Fund (OTIF) subscribes to Diffblue’s $8m funding round.
- Diffblue has raised $8m to expand its product’s functionality and target a $40m market opportunity.
- The round was led by Albion VC with participation from IP Group, Parkwalk and Hostplus.
- This investment brings Diffblue’s total venture funding to $40m to date.
Oxford Investment Consultants LLP (OIC) is pleased to announce that the Oxford Technology & Innovations EIS Fund (OTIF) has subscribed to Diffblue’s $8m funding round.
Difflblue, spun out of the University of Oxford, uses AI to automate writing and running of “unit” tests in a Java environment. Difflbue Cover is capable of writing unit tests 250x faster than a human developer, enabling enterprises to faster develop and deploy software.
Mathew Lodge, CEO of Diffblue, said: “The world faces a huge economic problem: there is far more software to be written than there are people to do it. Diffblue’s software helps leading financial services, healthcare and technology companies around the world accelerate their application modernization projects, reduce failures in production, and empowers developers to focus on what they do best – write great code.”
Robert Whitby-Smith, Partner, AlbionVC, said: “AI-augmented coding is transforming software development. We see Diffblue as the leader in the space because it has the only fully automated offering, unique and differentiated technology, and a rapidly growing blue-chip customer base. It enjoys a first-mover advantage in the critical enterprise software development arena targeting millions of developers and we were impressed by its recent traction, in particular in the US. They are very well positioned to create a new category leader and take a significant portion of a multi-billion dollar market opportunity.”
Read the full press release here.