Specialist VC invests in defence startup SensusQ
Tallinn-based Specialist VC has invested in Estonian defence industry startup SensusQ. The amount of the deal was not disclosed. Specialist VC typically invests between €250K and €3M.
UPD: Defence industry startup SensusQ has raised €3,8M in this round. In addition to Specialist VC, US-based New North Ventures and some angel investors, whose names were not disclosed, also participated in the deal. A new funding round is currently open to international investors with experience in the dual-use sector. The round is expected to close in the next few months.
SensusQ will use the investment to expand its team and meet market demand.
According to Jeremy Hitchcock, a co-founder and general partner of New North Ventures, the fund plans to work closely with SensusQ to support its ongoing operations in Europe and its expansion into the US.
Additionally, the startup announced its plans to expand its solution to civilian sectors, which deal with large amounts of data daily. These include compliance, fraud, risk management, and security.
Founded in Tallinn in 2020 by Marko Kaseleht and Villiko Nurmoja, SensusQ develops software that can synthesize a large amount of different data and sources into comprehensive information. It enables faster information exchange in military units and fewer failures in intelligence cycles. SensusQ uses AI and machine learning technologies.
The startup’s technology collects data from external and internal sources, such as social media and open-source feeds, and aggregates it with reports from sensors and mobile apps to create a holistic data pool. For example, the software allows the integration of Telegram, website/email scrapers, RSS feed readers, etc. The data is broken down into different operations. The software also interacts with raw data, feeding it into the operations log. The data received is collated into events, which include comprehensive background information and relevant links. In addition to the defence industry, SensusQ aims to develop a solution for other civilian sectors that work with large amounts of data.
The startup will use the investment to expand into new markets and further develop its product. In particular, the team will focus on developing AI-related research.
SensusQ has offices in Ukraine, the UK, and Estonia. The team consists of nearly 40 experts from Estonia and the UK. Previous investors include Estonian accelerator StartUp Wise Guys and VC Lemonade Stand.
Founded in Tallinn in 2017, Specialist VC is a venture capital firm that supports companies from the Baltic region, Finland and Ukraine. In early 2022, Specialist VC launched a new €50M fund, supported by the Estonian LHV pension fund and the European Investment Fund through the European Guarantee Fund and the Baltic Innovation Fund 2. Specialist VC's partners are Kaspar Hanni, Riivo Anton, Tõnu Esko, and Gerri Kodres.
