> ## Content Index
> Fetch the complete content index at: https://entrepreneurplus.co.uk/llms.txt
> Use this file to discover other available public pages before exploring further.

# Papercup
- URL: https://entrepreneurplus.co.uk/graveyard/papercup/
- Published: 2026-10-29T12:46:36.000Z
- Updated: 2026-10-31T05:28:12.000Z
- Description: AI video dubbing; team moved to Scale AI, IP sold to RWS, then voluntary liquidation, Jul 2025
- Author: Editorial Desk
- Tags: #ep-grave

✝ Startup · Creditors' voluntary liquidation · 10 July 2025 

AI video dubbing; team moved to Scale AI, IP sold to RWS, then voluntary liquidation, Jul 2025

Companies House

[11093649](https://find-and-update.company-information.service.gov.uk/company/11093649?ref=entrepreneurplus.co.uk) · Liquidation

How it ended

Creditors' voluntary liquidation

Ended

10 July 2025

Founded

2017

Sector

AI & Data

Based in

London

Funding raised

$30.5M

Backed by

Entrepreneur First, LocalGlobe, Octopus Ventures, Sands Capital, Sky, Guardian Media Ventures, BDMI

Last known website

[papercup.com](https://www.papercup.com/?ref=entrepreneurplus.co.uk)

Last checked

26 October 2026

## What happened

Papercup Technologies Limited was founded in London in 2017 by Jesse Shemen and Jiameng Gao out of Entrepreneur First. Its software transcribed video, translated the speech and generated a synthetic voice track checked by human reviewers, and it dubbed content for Sky News, Bloomberg, Discovery and Business Insider. It raised about $30.5M in total, including a $20M Series A in June 2022 led by Octopus Ventures with LocalGlobe, Sands Capital, Sky, Guardian Media Ventures, Entrepreneur First and BDMI. As large AI labs released cheaper speech models the standalone business lost its edge. In June 2025 most of the team, including the chief executive, joined Scale AI and listed language-services group RWS bought Papercup's intellectual property for an undisclosed sum. On 10 July 2025 shareholders resolved to wind the company up and FRP Advisory were appointed liquidators.

## Why

- Outcompeted

## What happened to the assets, customers and team

Intellectual property acquired by RWS (announced 26 June 2025, price undisclosed) and most staff acqui-hired by Scale AI; the company then entered voluntary liquidation on 10 July 2025 with FRP Advisory as liquidators, and the papercup.com domain now redirects to RWS.

## In their words

> it's difficult to see Papercup take a different path than I had imagined
> 
> Jesse Shemen, co-founder and CEO, Papercup · [source](https://businesscloud.co.uk/news/rws-scoops-up-papercup-ip-after-staff-exodus/?ref=entrepreneurplus.co.uk)

> The acquisition of Papercup's market-leading technology marks our intention to transform all forms of enterprise content,
> 
> Ben Faes, CEO, RWS · [source](https://businesscloud.co.uk/news/rws-scoops-up-papercup-ip-after-staff-exodus/?ref=entrepreneurplus.co.uk)

## Lessons

A narrow AI application built on proprietary speech models was overtaken within three years by general-purpose models from far better-funded labs. The founders salvaged value through an acqui-hire and an IP sale rather than a down round, but equity holders were left with a liquidation.

## Backed by

- [![](https://storage.ghost.io/c/05/a4/05a4a052-18ab-4836-8924-ec8b322c371c/content/images/2026/10/entrepreneur-first-logo.svg)Entrepreneur First](https://entrepreneurplus.co.uk/investors/entrepreneur-first/)
- [![](https://storage.ghost.io/c/05/a4/05a4a052-18ab-4836-8924-ec8b322c371c/content/images/2026/10/localglobe-logo.svg)LocalGlobe](https://entrepreneurplus.co.uk/investors/localglobe/)

## Sources

1. [find-and-update.company-information.service.gov.uk](https://find-and-update.company-information.service.gov.uk/company/11093649?ref=entrepreneurplus.co.uk)
2. [find-and-update.company-information.service.gov.uk](https://find-and-update.company-information.service.gov.uk/company/11093649/filing-history?ref=entrepreneurplus.co.uk)
3. [businesscloud.co.uk](https://businesscloud.co.uk/news/rws-scoops-up-papercup-ip-after-staff-exodus/?ref=entrepreneurplus.co.uk)
4. [techcrunch.com](https://techcrunch.com/2022/06/09/papercup-raises-20m-for-ai-that-automatically-dubs-videos/?ref=entrepreneurplus.co.uk)

✓ Verified by EP+ Every Graveyard entry is checked against Companies House and the sources above, and re-checked periodically. Spotted an error or a company that has been rescued? [Tell us](mailto:info@entrepreneurplus.co.uk?subject=Graveyard%20correction%3A%20Papercup).

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