Estonian defence tech SensusQ has secured €3.8M from US-based New North Ventures and angel investors. This marks the first investment in dual-use technology for New North Ventures.
The capital will enable SensusQ to expand its team and meet market demand while receiving expertise, strategic support and a global network from its new partners.
In recent years, the increasing amount of data from the internet, drones, social media, etc., has been a growing problem for individuals, businesses and the defense sector. SensusQ provides an AI-powered on-premise system that can fuse data from multiple sources and sensors, such as UAVs, cyber events, open source intelligence, and human intelligence, into a single picture combining all domains. The system accelerates information exchange on the battlefield, and enables decision advantage and more rapid targeting and time to action than adversaries.
“We are excited to partner with SensusQ, an emerging global leader in data management innovation as they pioneer creative solutions in an increasingly data-driven world,” said New North Ventures co-founder and General Partner Jeremy Hitchcock. “We are in a global power competition and it is crucial that we invest in technologies that accelerate time to decision on the battlefield and in the boardroom, both for the United States and our allies on the front lines.
"Leaders are struggling to rapidly analyse and extract intelligence from a vast array of sensors and data collection sources, and SensusQ's solutions have the potential to revolutionise this process. We look forward to working closely with the team to support ongoing operations in Europe and their expansion into the U.S.”
“The deployment of SensusQ technology in Ukraine has resulted in an increased demand for our intelligence system in allied countries, delivering to which we will be focusing on in the upcoming year. The knowledge and assistance provided by New North Ventures will undoubtedly aid us in fulfilling the increasing demand more efficiently,” says SensusQ CEO Marko Kaseleht.
SensusQ currently focuses on the defence industry but plans to expand to other sectors dealing with large amounts of data daily, such as compliance, fraud, risk management, and security. A new funding round is currently available for international investors with experience in the dual-use sector, and it is projected to close within the next few months.
SensusQ aims to become a leading globl IMS provider, participating in at least three major Estonian Defence League trainings annually.
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