Northern Ireland-based Analytics Engines has secured over £1m ($1.6m) for its big data and database accelerating applications.
The Queen’s University of Belfast (QUB) spin-out, which won the Best Emerging Technology Award from Irish Technology Leadership Group in 2013, received the backing from venture capital firm Crescent Capital. The money from the round will be used to speed up development of the QUB intellectual property, support development in new sectors, and assist the company stepping up onto the international stage.
Stephen McKeown, CEO of Analytics Engines, said: “The Analytics Engines suite of plug-in accelerators allows increasingly complex analytics and enhanced real-time processing of big data in areas such as database analysis and transactional processing, to financial risk and medical imaging. Tasks that formerly took hours to perform are now possible in minutes – this creates significant business opportunities that were unobtainable only a few years ago.”
