Icelandic Startup Stratis Intelligence Emerges from Stealth as 'Palantir of Europe'
Ingvar Helgason has officially launched Stratis Intelligence, a European big data startup supported by the Estonian defence-tech fund Darkstar and others, at the Resilience Conference in London on September 30, 2025. According to Helgason, Stratis Intelligence has developed an intelligence platform for spatial and temporal datasets, enabling partners to query large amounts of data rapidly. The system has not yet been fully disclosed, but is designed to integrate sensor data, economic signals, and supply chain intelligence to identify subtle patterns during times of heightened geopolitical activity in Europe.
The Stratis engine was created by co-founder Smári McCarthy, whose background includes work with the Pirate Party, information security consulting, serving as CTO for Organised Crime and Corruption Reporting Project, managing the Aleph platform used in the Panama Papers investigation, and serving in Iceland’s parliament. McCarthy observed limitations in public sector use of data while serving as a politician and subsequently left parliament to develop the Stratis engine, which was constructed over three and a half years.
Helgason noted that Stratis Intelligence does not collect customer data, allowing the engine to operate on user infrastructure, including air-gapped or high-security networks and older laptops. The company’s launch coincided with Darkstar’s announcement of its investment, though specific financial details were not shared. Ragnar Sass, leader of Darkstar, stated that the fund’s investment followed engagement with the Stratis team during activities in Ukraine and their bootcamp-based vetting process.
The funding will be used to hire additional staff in the Nordics and Baltics and support product delivery, such as a mission-planning tool currently undergoing testing in Ukraine. Stratis Intelligence is also engaging with Nordic services regarding open-source analytics, and a second investor participated in the round. When asked if Stratis should be considered “the Palantir of Europe,” Helgason said it is not a term the company uses, but acknowledged the comparison. He emphasized the need for European software platforms and data resources, noting ongoing discussions about export policies.