Pandora Intelligence Receives 4 to 6 Million Euros in Investment Round
Pandora Intelligence receives capital investment from existing investors including the Heligan Group to further develop their software that helps organisations to predict risks. In addition, a new CEO took office, Joost van Hest: 'We want to move towards software that weighs decisions against the risks better and faster than the human brain.'
From thesis to company
Pandora Intelligence started as a doctoral thesis from founder Prof. dr. Peter de Kock, former director and policeman. He thought that terrorist attacks and other kinds of calamities could be predicted by conducting an analysis based on what happens in books and films. If these scenarios are combined with data from other sources, the computer recognises these patterns and can generate predictive scenarios.
This concept has not only proven itself in scientific research, because together with technical man Peter Rakké and CEO, Ard Jol (now CCO), De Kock has built a startup around it in recent years. It predicts where the risks are for the police, and airlines also use it to check which cargo is risky, while municipalities use the software to detect undermining crime at an early stage and financial institutions are now testing the 'black sheep' between their customers in time to recognise with it.
The new capital injection should be sufficient until the end of 2024 to hire additional people, especially developers, who can ensure that the software is more 'ready-to-use' for customers. First within the markets that already have paying customers. These are aviation, port companies that use it to combat cocaine smuggling, supply the regional monitor for municipalities and the system that police services and other law enforcement services use. Pandora Intelligence currently has 40 employees and that should be 100 by the end of next year, including marketeers and salespeople.
Faster than the human brain
Van Hest and colleagues are active in a fairly unexplored area for PRI or predictive risk intelligence, but they do not have direct competitors. Their ultimate goal is to build software that weighs decisions against the risks involved better and faster than the human brain.
Source: MT/Sprout | https://mtsprout.nl/groei/pandora-intelligence-joost-van-hest