Portendo was a great idea, it also attracted a lot of capital – still it failed. First the original company failed, mainly due to that the founders where unable to get the market traction and validation needed. They probably even raised too much money and should have slowed down. It was also a real Deep Tech company before the Deep Tech boom. SaaS companies where hot when they started, ”hardware” was not. Also, technology related to security and defence was also not ”in” but something that was frowned upon. All in all – a great idea that had the wrong timing with the market, coupled with management that where unable to compensate for this.
We got involved when we bought the bankrupt assets and made a really hard effort to get it off the ground. It still proved to be too early. The company is still there but now the patents are coming to an end and other companies have caught up. Game over.
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