Cass Entrepreneurship Fund and The FSE Group back drone manufacturer Evolve Dynamics in its latest funding round.
"We are delighted to support the Evolve Dynamics team, who have demonstrated the value proposition of their product to their target market with strong growth to date. We’re very pleased to be helping them scale and expand into new markets. The company has an impressive number of orders already for the next few months and customer satisfaction with the drone’s performance in a range of scenarios has been excellent."
The £2m injection brings Adarga's total Series A fundraising to £7m following previous backing led by Allectus Capital.
"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™."
Allectus Capital led the Series A round to support team expansion and platform deployment.
"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. 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."
Midven backed the security and defence firm through its Exceed Fund to support expansion plans.
"Unlike many of our competitors, Amba’s product portfolio includes advanced technologies that are developed and manufactured by our team here in the UK. We are particularly proud of our Manta Under-Vehicle Inspection System, which is currently assisting the security forces around the globe to protect key facilities and resources from the on-going threat of concealed explosive devices."
