These companies were founded just two years ago
A secretive AI company that recently raised hundreds of millions of dollars from investors has announced plans to hire in Bristol. London-based Olix was founded two years ago by James Dacombe, then just 23 years old, and is now developing technology it claims is cheaper and faster than Nvidia.
This week, Oryx raised a whopping $220 million in a Series A funding round, valuing it at $1 billion, according to our sister site Business Live. Backers of the business include Hummingbird Ventures, which has also invested in major companies such as food delivery company Deliveroo and banking firm Revolt.
Other investors in the latest funding include Plural, Vertex Ventures, LocalGlobe, Entrepreneurs First, Fundomo, and Transition. This round brings the total capital raised by Olix (formerly Flux Computing) to $250 million.
said Jonathan Heiliger, general partner at investor Vertex Ventures. “One of the biggest constraints in AI today is the compute required to run these models at scale.
“Today’s GPU-based approaches force a compromise between speed and cost. Olix is taking a fundamentally different approach designed to make a big difference on both fronts, and we’re excited about it.”
The founder of Olix is a rising star in the technology world who has achieved much success since dropping out of school at just 16 years old. Dacombe started working as a software engineer at a startup as a teenager before leaving to found CoMind, a brain health care company.
In 2022, he won a $200,000 grant from the Thiel Foundation. The Thiel Foundation is a two-year program founded by technology entrepreneur and billionaire investor Peter Thiel for young people who want to create something new.
Mr. Dacom launched Orix in March 2024. In the same year, he was named one of Britain’s most inspirational people under 30 by The Sunday Times.
Following the latest investment, Oryx is currently hiring for a variety of roles in the United States, Canada, London and Bristol.
In a statement on its website, Oryx claims to be a “privately owned” company and employs “the best talent” in photonics, systems and computing.
A statement on the company’s website reads: “The impact of this step change, not just on AI, but on society as a whole, cannot be overstated.” “Life at Orix is fast-paced and high-stakes. We don’t believe in ‘striving’ for a purpose, but we do believe in dedication to a mission.
“This isn’t a job you can leave on your doorstep. It’s important enough to command a space in your life. You’ll be making a measurable impact alongside people who are also excited about it.”
The company offers visa sponsorship, including dependents, and an extra £24,000 a year if you live close to the office. The Bristol role advertised on the site is Senior/Staff Digital Design Engineer, with a salary of between £125,000 and £180,000.
The announcement comes a day after British semiconductor start-up Fractile confirmed it would invest £100m in its UK operations in London and Bristol, with the government urging Britain’s tech entrepreneurs to “take bold risks” in developing AI.
