Data Science Investment Counter —Funding raised by UK data science companies in 2017 as of today
£ 231.660 Million

London-based Cytora Closes £2.4 Series A Round

London-based Artificial Intelligence startup Cytora has secured £2.4 million in a Series A round led by Parkwalk, and backed by Cambridge Enterprise, iLexIR , and a consortium of angel investors.

Founded in 2013 by Andrzej Czapiewski, Aeneas Wiener, Richard Hartley, and Joshua Wallace, the company uses machine learning algorithms to scan the web in real time and detect trends about geopolitical risks that can be of use for insurance companies and  other financial entities.

The company— originally a Cambridge University spin-off— had raised an undisclosed amount of funding in an October 2015 Seed Round led by Cambridge’s investment arm Cambridge Enterprise.

“We help businesses gain a comprehensive understanding of risk, particularly in new and emerging markets, by leveraging the observation power of the internet,” Cytora CEO Richard Hartley said in a statement about the new round.

“In the right hands, our data provides an information advantage which can drastically impact underwriting and trading decisions,” he added.

Martin Glenn, investment director of the Parkwalk fund, also commented on the deal: “We are delighted to back Cytora and its founders through the Parkwalk Opportunities Fund and UCEF IV.”

“This is Parkwalk’s first investment from the Judge Business School’s incubator and, alongside our investment partner Cambridge Enterprise, we are excited about the future prospects for Cytora and their leading event detection technology,” he added.

Image via Cytora (screenshot)

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