Electric Sheep Secures £500,000 Innovate UK Smart Grant for VFX Tech
Deal News | Feb 28, 2025 | Business Cloud
Electric Sheep, an AI tech startup specializing in visual effects (VFX) technology, has secured a £500,000 Smart Grant from Innovate UK. The funding is intended to support the development of Spotlight V3, a next-generation rotoscoping tool slated for launch in 2025. Electric Sheep’s prior version, Spotlight V2, bridged AI and VFX by automating the rotoscoping process at speeds 24 times faster than traditional methods. This advancement aims to simplify and expedite the video segmentation process, allowing VFX artists to focus more on creative storytelling rather than time-consuming tasks. Richie Murray, Electric Sheep's co-founder, expressed gratitude for the UK government's support in fostering innovation within the creative sector. Angelo Burgarello of Look AI Ventures, which has backed Electric Sheep in their pre-seed round, emphasized the transformative potential of AI in the VFX industry, foreseeing a fundamental shift in production timelines and cost structures.
Sectors
- Media and Entertainment Technology
- Artificial Intelligence
Geography
- United Kingdom – The companies and funding agencies involved, such as Innovate UK and Electric Sheep, are based in the UK, highlighting its role in promoting technological innovation.
Industry
- Media and Entertainment Technology – The article pertains to advancements in AI-driven technology for visual effects, a key facet of the media and entertainment technology sector.
- Artificial Intelligence – Electric Sheep specializes in AI technology specifically for VFX, showcasing the intersection of AI with creative industries.
Financials
- £500,000 – The Smart Grant awarded to Electric Sheep by Innovate UK for developing AI-driven VFX technology.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Electric Sheep | AI tech startup; Target | Company | An AI-driven technology startup focused on developing innovative solutions for the visual effects industry. |
| Innovate UK | Funding Agency | Government | A UK government agency providing grants to promote innovation in technology and industry. |
| Look AI Ventures | Investor | Company | A venture capital fund focusing on AI investments, supporting Electric Sheep in their pre-seed round. |
| Richie Murray | Co-founder | Person | Co-founder of Electric Sheep, overseeing the development of innovative AI-driven VFX technology. |
| Angelo Burgarello | Partner | Person | A partner at Look AI Ventures, advocating the transformative impact of AI in the VFX industry. |