Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Ministry of Defence software supplier Adarga strikes £17m funding deal

Ministry of Defence software supplier Adarga strikes £17m funding deal

The defence AI-focused company, which is chaired by the City grandee Sir Donald Brydon, has secured the new funding to fuel its expansion amid growing demand from national security clients.

A defence-focused British artificial intelligence software company chaired by a veteran of City boardrooms has raised a substantial round of funding to fuel its expansion.

Sky News has learnt that Adarga, which helps the Ministry of Defence and national security-focused clients identify threats more effectively by sifting vast amounts of information, has secured £17m from a syndicate of investors.

Sources said that Adarga, which is chaired by the former Royal Mail, London Stock Exchange Group and Sage Group chairman Sir Donald Brydon, had notified shareholders about the fundraising this week.

It was unclear at what valuation the capital had been invested.

The round is said to have been led by Boka Group Holdings, whose founding managing director, John James, runs a New York-listed special purpose acquisition company called Fusion Acquisition Corp II.

Adarga has been compared to Palantir, the US-based technology company, because of its ability to analyse vast quantities of data at speed.

It was founded in 2016 by Rob Bassett Cross, its chief executive.

Sir Donald Brydon chairs Adarga


Three years later, it announced the completion of a £7m Series A funding round led by Allectus Capital, with Moore Strategic Ventures also participating.

"As we navigate one of the most complex geopolitical situations of our time, Adarga's mission could not be more meaningful," Sir Donald said at the time of his appointment just over a year ago.

"The necessity to be able to understand and act on information at the speed required in today's increasingly complex commercial and operating environments is critical to remaining competitive."

Adarga did not respond to an enquiry from Sky News about its funding round on Thursday.

Newsletter

Related Articles

0:00
0:00
Close
Unelected PM of the UK holds an emergency meeting because a candidate got voted in… which he says is a threat to democracy…
Farmers break through police barriers in Brussels.
Ukraine Arrests Father-Son Duo In Lockbit Cybercrime Bust
US Offers $15 Million For Info On Leaders Of Cybercrime Group Lockbit
Apple warns against drying iPhones with rice
Alexei Navalny: UK sanctions Russian prison chiefs after activist's death
German economy is in 'troubled waters' - ministry
In a recent High Court hearing, the U.S. argued that Julian Assange endangered lives by releasing classified information.
Tucker Carlson says Boris Johnson wants "a million dollars, in Bitcoin or cash, from Tucker Carlson to talk about Ukraine.
Russia is rebuilding capacity to destabilize European countries, new UK report warns
EU Commission wants anti-drone defenses at Brussels HQ
Von der Leyen’s 2nd-term pitch: More military might, less climate talk
EU Investigates TikTok for Child Safety Concerns
EU Launches Probe Into TikTok Over Child Protection Under Digital Content Law
EU and UK Announce Joint Effort on Migration
Ministers Confirm Proposal to Prohibit Mobile Phone Usage in English Schools
Avdiivka - Symbol Of Ukrainian Resistance Now In Control Of Russian Troops
"Historic Step": Zelensky Signs Security Pact With Germany
"Historic Step": Zelensky Signs Security Pact With Germany
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
Tucker Carlson grocery shopping in Russia. This is so interesting.
France and Germany Struggle to Align on European Defense Strategy
‘A lot higher than we expected’: Russian arms production worries Europe’s war planners
Greece Legalizes Same-Sex Marriage and Adoption Rights
Russia "Very Close" To Creating Cancer Vaccines, Says Vladimir Putin
Hungarian Foreign Minister: Europeans will lose Europe, the Union's policy must change drastically
Microsoft says it caught hackers from China, Russia and Iran using its AI tools
US Rejects Putin's Ceasefire Offer in Ukraine
The Dangers of Wildfire Smoke and Self-Protection Strategies
A Londoner has been arrested for expressing his Christian beliefs.
Chinese Women Favor AI Boyfriends Over Humans
Greece must address role in migrant vessel disaster that killed 600: Amnesty
Google pledges 25 million euros to boost AI skills in Europe
Hungarian President Katalin Novák Steps Down Amid Pardon Controversy
Activist crashes Hillary Clinton's speech, calls her a 'war criminal.'
In El Salvador, the 'Trump of Latin America' stuns the world with a speech slamming woke policing after winning a landslide election
Trudeau reacts to Putin's mention of Canadian Parliament applauding a former Ukrainian Nazi in his interview with Tucker Carlson.
The Spanish police blocked the farmers protest. So the farmers went out and moved the police car out of the way.
Volodymyr Zelenskiy fires top Ukraine army commander
Tucker Carlson's interview with Vladimir Putin raises EU concerns
Finnish Airline, Finnair, is voluntarily weighing passengers to better estimate flight cargo weight
Russia's Economy Expands by 3.6% Due to Increased Military Spending
Ukraine MPs Vote To Permit Use Of Dead Soldiers' Sperm
German Princess Becomes First Aristocrat To Pose Naked On Playboy Cover
UK’s King Charles III diagnosed with cancer
EU's Ursula von der Leyen Confronts Farmer Protests Amid Land Policy Debates
Distinguishing Between Harmful AI Media and Positive AI-Generated Content: A Crucial Challenge for the EU
Tucker Carlson explains why he interviewed Putin
Dutch farmers are still protesting in the Netherlands against the government, following the World Economic Forum's call for 'owning nothing.'
Hungarian Prime Minister Viktor Orbán stands up for European farmers and says, 'Brussels is suffocating European farmers.
×