A newly formed British artificial intelligence startup, founded by former DeepMind scientists, is reportedly in advanced talks to secure a massive new funding round at a post-money valuation of nearly $4 billion.

Emulate, which was incorporated in August 2026, is seeking to raise up to $700 million in its latest financing, according to sources familiar with the matter. The round would value the company at approximately $3.7 billion, edging close to the $4 billion mark.

The startup was founded last month by a team of leading researchers formerly with Google DeepMind, including Jack Parker-Holder and Matthew McGill.

Where the funding is headed: The hefty investment round is expected to be co-led by prominent UK venture capital firm Index Ventures and Silicon Valley's Lightspeed Venture Partners, both of which are in advanced negotiations with the company.