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Signature(s)

Amount
€ 12,000,000
Countries
Sector(s)
Ireland : € 12,000,000
Services : € 12,000,000
Signature date(s)
23/11/2022 : € 6,000,000
23/11/2022 : € 6,000,000
Link to source
Data sheet

Summary sheet

Release date
28 June 2022
Status
Reference
Signed | 23/11/2022
20210364
Project name
Promoter - financial intermediary
SIREN (EGFF)
SINDICE LTD
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 12 million
EUR 27 million
Location
Sector(s)
Description
Objectives

Siren is an Irish company founded in 2014 offering an intelligence platform that makes it easier to use the data collected by organisations to answer questions and make links, find patterns and relationships. It makes data accessible through real-time search, dashboard analytics, knowledge graphs and real-time alerts. The investments (2022-2024) concern the company's research, development and innovation (RDI) activities. The investments aim at further developing the capabilities of the Siren platform and strengthening its competitive edge, as well as further penetrating the Security Analytics market spanning Law Enforcement, Intelligence, Cyber Threat and Fraud & Insider Threat.

The project objectives are to further develop the capabilities of the Siren platform and to strengthen its competitive edge, as well as to further penetrate the Security Analytics market spanning Law Enforcement, Intelligence, Cyber Threat and Fraud & Insider Threat.

Additionality and Impact

The project supports the policy objective of innovation and digitalisation, as it supports the development and market introduction of an innovative investigative intelligence platform that, through its forensic capability, supports the protection of citizens, society and the economy.

With the support of this project, the promoter further enhances and expands its offering, to address new groups of customers and areas of application in existing and new geographies. The project secures and builds up deep technology expertise in the software domain and supports Europe's digital sector.

The EIB investment supports an EU-based technology firm with the potential to become a leader among investigative intelligence platform providers. The Venture Debt financing complements VC funding and provides first access to debt for the company.

Environmental aspects
Procurement

The project activities do not fall under the Annexes I or II of the EU Directive 2014/52/EU amending the EIA Directive 2011/92/EU. The project will be carried out in existing facilities, already authorised, that will not change their scope due to the project. As such, the project activities are not subject to a mandatory environmental impact assessment (EIA).

The Promoter is a private company not operating in the utilities sector and not having the status of a contracting entity, and is thus not subject to EU rules on public procurement. Under these conditions, the procurement procedures followed by the promoter are suitable for the project.

Link to source
Summary sheet

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - SIREN (EGFF)
Publication Date
5 Oct 2022
Document language
Main Topic
Lending
Document Number
156494201
Document Focus
Environmental Information
Project Number
20210364
Sector(s)
Regions
Countries
Publicly available
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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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