Cytora, a Cambridge and London, UK-based geopolitical risk analytics spin-out from the University of Cambridge, raised €2.4m in Series A funding.
The round was led by Parkwalk Advisors (via the Parkwalk Opportunities Fund) with participation from Cambridge Enterprise (via the University of Cambridge Enterprise Fund IV), iLexIR and angels Alan Morgan, Paul Forster and Matthew Grant.
The company intends to use the funds to drive further growth in core markets of supply chain risk management and financial services, and to further develop the underlying technology in the area of event detection.
Founded in 2013, Cytora uses AI/machine learning to capture hidden economic insights that exist in online data, giving clients a comprehensive overview of what is changing in the world and an ability to extract leading indicators and opportunities.
The 20-person company works with major financial services and insurance companies.