Adarga receives £5mn in Series A funding round
Adarga, the UK-based artificial intelligence analytics software firm, has received £5mn (US$6.23mn) through Series A fundraising.
Allectus Capital led the funding round for the firm that enables businesses to transform data intensive, human knowledge processes by analysing large quantities of data faster and more accurately.
“With the completion of this round, Adarga is focused on consolidating its competitive position in the UK defence and security sector,” stated Rob Bassett Cross, CEO of Adarga.
“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.”
The funding will be used to expand the firm’s data science and software engineering teams, as well as accelerate research.
“Adarga has developed a world class analytics platform to support real-time critical decisioning by public sector and defence stakeholders,” commented Matthew Gould, Head of Emerging Technology at Allectus Capital.
“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.”