Foxglove chief executive Adrian Macneil with Nvidia chief executive Jensen Huang at an Inception event for start-ups late last year. Nvidia is one of Foxglove's key customers. Photo / LinkedIn
Foxglove chief executive Adrian Macneil with Nvidia chief executive Jensen Huang at an Inception event for start-ups late last year. Nvidia is one of Foxglove's key customers. Photo / LinkedIn
Another New Zealander is “crushing it” on the global AI scene.
Massey computer science graduate Adrian Macneil, whose first job was as a software engineer for the Treasury, now heads a Silicon Valley-based AI firm called Foxglove, which has just raised US$40 million ($69.5m) in venture capital.
The round wassupported by United States venture capital firm Bessemer Venture Partners (an early Rocket Lab backer), with participation from existing investors Eclipse and Amplify Partners, and support from new investors including NZ’s Icehouse Ventures.
Foxglove's co-founders: CEO Adrian Macneil and "computer whisperer" Roman Shtylman.
Foxglove says its technology “helps robotic developers to understand how their robots sense, think, and act in dynamic and unpredictable environments”.
Customers include Nvidia, Amazon, Tesla, robotaxi firm Waymo, and Wayve, a British multibillion-dollar maker of AI tech for driverless cars headed by another Kiwi, Alex Kendall.
“We’ve just raised US$40m to transform the infrastructure for physical AI,” Macneil said in a video posted to LinkedIn.
“AI is rapidly transforming critical industries like manufacturing, logistics, transportation, agriculture, construction, aerospace and defence.”
Foxglove lets companies “evaluate robot performance, and watch 3D frame-by-frame replays”.
Icehouse Ventures principal Mason Bleakley said, “We’ve known of Adrian for some time now as a New Zealander who had moved to the Valley and quickly become one of the most important emerging leaders in this space.
“For us, it’s not just a chance to back the best Kiwis, but for New Zealand investors to be able to share in the success of our brightest entrepreneurs, like Adrian, around the world.”
Among other analysis features, Foxglove's software lets firms like Amazon, Tesla and Waymo evaluate robot or robotaxi performance with frame-by-frame virtual replays.
Icehouse chief executive Robbie Paul posted, “Yet another Kiwi is crushing it in the US.”
Icehouse did not immediately comment on the size of its investment.
Another look at Foxglove's UI.
Foxglove, which raised US$15m in a 2022 Series A round led by Eclipse, will use its new funds to speed product development.
After leaving the Treasury, Macneil worked for various start-ups before emigrating to the US as director of engineering for fast-growing crypto firm Coinbase.
Macneil co-founded Foxglove in 2021 with fellow Coinbase alumnus Roman Shtylman (today billed as Foxglove’s “computer whisperer”.
Chris Keall is an Auckland-based member of the Herald’s business team. He joined the Herald in 2018 and is the technology editor and a senior business writer.
