Bristol-based Adarga announces success in £5 million funding through Allectus Capital
Adarga is a Bristol-based artificial intelligence (AI) software company. Its tech enables organisations to effectively analyse vast quantities of complex data more efficiently than ever.
And the company’s journey into the depths of data analytics is about to be catapulted further with the support of £5 million!
This Series A fundraising round was led by Allectus Capital, an international tech investor that focuses its attention on the most disruptive businesses in the Asia-Pacific, UK and US.
Growth in all directions
The funding will contribute to the expansion of Adarga’s data science and software engineering teams, accelerate research & development and facilitate the adarga_engineTM and adarga_benchTM software rollout in the UK as well as further afield.
It’s exciting times all round at Adarga, as CEO Rob Bassett Cross says, “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.”
Adarga’s software automates time intensive tasks with highly impressive capabilities. It understands and learns from the data it digests at speeds far beyond what a human could achieve, thus revolutionising the value users are able to extract from their data.
Rob goes on to say, “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.”
Allectus Capital believes the generous funding amount is in excellent hands and its use will be maximised by Adarga.
Matthew Gould, Head of Engineering Technology at Allectus Capital says, “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.”
This isn’t the first taste of success Adarga has enjoyed. They have already built an impressive £30 million-plus sales pipeline through strategic collaborations and thanks to its highly experienced management team.
Adarga’s ambition is to become a UK based, global technology champion that delivers the latest developments in AI for real-world application – and it’s well on its way to achieving this.