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Data science firm Exonar raises £1.25m to expand across Europe

West Berkshire-based Exonar has raised £1.25m from investors including Winton Group and Amadeus Capital.

Winton invested £750,000, with the firm also drawing support from a series of existing Angel backers.

Data science company Exonar seeks to help customers organise their information while also removing risk.

Adrian Barrett, Exonar’s founder and CEO, commented on the raise: “We are delighted to welcome Winton and Amadeus as key investors.

“The opportunity to help organisations comply with GDPR is extensive and it was important that we found investors with the scale and ambition to enable Exonar to maximise this opportunity.”

The funds will be used to expand the availability of the firm’s Information Intelligence platform across Europe.

Nick Saunders, chief operating officer at Winton, spoke about his decision to back the firm: “Exonar’s approach to machine learning for intelligent classification allows businesses to understand what data is actually on their networks and protect it accordingly.

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

Alex van Someren, managing partner of early stage funds at Amadeus Capital Partners, said the investment would allow Exonar to bring much needed simplification of compliance with the EU GDPR.

This, he added, would allow “organisations to identify if and where they hold sensitive data”.

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