Adarga, the artificial intelligence analytics software company, has successfully completed its £5 million Series A fundraising.
Adarga allows organisations to transform data intensive, human knowledge processes by analysing vast volumes of data more quickly and accurately. The round was led by Allectus Capital, an experienced international technology investor focusing on disruptive businesses in the Asia-Pacific, UK and US, with additional funds coming from existing and new investors.
The proceeds will be used to continue the expansion of Adarga’s data science and software engineering teams, accelerate research & development and to execute the adarga engine and adarga_bench software platform rollout in the UK and beyond.
Rob Bassett Cross, CEO of Adarga, commented: “With the completion of this round, Adarga is focused on consolidating its competitive position in the UK defence and security sector. We are positioning ourselves as the software platform of choice for organisations who cannot deal effectively with the scale and complexity of their enterprise data and are actively seeking an alternative to knowledge intensive human processes. Built by experienced sector specialists, the Company has rapidly progressed a real solution to address the challenges of an ever-growing volume of unstructured data.“
Matthew Gould, Head of Emerging Technology at Allectus Capital, commented: “Adarga has developed a world class analytics platform to support real-time critical decisioning by public sector and defence stakeholders. What Rob and the team have built in a short time is a hugely exciting example of the founder led, disruptive businesses that we like to partner with – especially in an ever-increasing global threat landscape. We are looking forward to supporting Adarga in growing their core business but also capturing significant opportunities in other verticals”
Adarga has a highly experienced management team with deep sector expertise and the Company has made significant progress since inception, building a £30 million-plus sales pipeline through strategic collaborations with a number of global industrial partners. Powered by world class machine learning and natural language processing, the adarga_engine and adarga_bench software products help our customers produce accurate, timely and actionable analysis of complex data sources to identify threats, critical insights and unlock value for our customers.