UK Startup Unit1 Raises ~£15M From Balderton to Stage Concerts With Hyperrealistic AI Avatars

Unit1, founded by former Andrew Lloyd Webber Group CEO Barney Wragg, raised nearly £15M (~$20M) led by Balderton Capital partner Daniel Waterhouse, with Mercuri and U2's ex-manager Paul McGuinness joining. The startup builds 'hyperrealistic' digital avatars of both retired living artists and deceased musicians — pitched as a lower-cost Abba Voyage alternative that can tour multiple countries simultaneously. It has piloted the tech with KT Tunstall, recreating a two-decade-old performance via motion capture.