Data Science Investment Counter —Funding raised by UK data science companies in 2017 as of today
£ 280.765 Million

Data Science Startup Exonar Raises £1.25M in Seed Round

Berkshire-based data science company Exonar has secured £1.25 million in a seed round led by Winton Group and Amadeus Capital, and backed by private angels.

The company, founded in 2012 and headquartered in Newbury, uses machine learning models to help companies make sense of their data, and extract information without incurring security vulnerabilities.

Following the round, the company is planning to expand its business—in particular its flagship product Information Intelligence platform— throughout Europe.

Exonar’s founder and CEO Adrian Barrett commented on the fresh injection of cash,”We are delighted to welcome Winton and Amadeus as key investors,” he said.

“The opportunity to help organisations comply with GDPR [General Data Protection Regulation] is extensive and it was important that we found investors with the scale and ambition to enable Exonar to maximise this opportunity,” he concluded.

Nick Saunders, Chief Operating officer at Winton—which invested £750,000 in the startup— also released a statement on the round: “Exonar’s approach to machine learning for intelligent classification allows businesses to understand what data is actually on their networks and protect it accordingly,” he said.

“We believe that a wide range of customers will be able to benefit from Exonar’s experience in tackling large complex information management problems.”

Image via bit.ly/2qyOzC3

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BY SHACK15

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