Bristol-based Adarga, the artificial intelligence company focused on data analysis, is pleased to announce that it has successfully upsized its Series A fundraising to £7 million with an additional £2 million investment from Moore Strategic Ventures LLC.
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: “We are delighted to have been backed by the team at Moore Strategic Ventures alongside our lead Series A cornerstone Allectus Capital. We look forward to continuing to build and scale our competitive position in the UK. With the additional new capital, Adarga will continue investing in R&D and scaling our team, extending the capabilities of our cutting-edge intelligence platform to enable our customers to capture and fuse data from numerous sources, helping them to make better decisions and solve some of their most important and complex problems.”
Nick Haskins, of Moore Strategic Ventures, LLC commented: “We are pleased to be investing in Adarga and look forward to supporting the Adarga team as it continues to build out its software products adarga_engine™ and adarga_bench™.”
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