Portendo Remote Detection was a bold idea that initially attracted significant capital, but ultimately failed to take off. The concept was to use Raman LIDAR or spectroscopy (a technique that won C.V. Raman a Nobel Prize in 1930) to detect explosives and narcotics from a distance. Imagine the swabs used in airport security, but instead, this technology would allow detection from 2-3 meters away, without physical contact.
The original company struggled, mainly because the founders couldn’t secure the market traction and validation needed to move forward. Ironically, they may have raised too much money, accelerating too quickly instead of slowing down to refine the product. It was a true Deep Tech venture, tackling tough challenges with lasers, optics, and detectors—before Deep Tech was trendy. At the time, SaaS companies were the darling of investors, while anything involving hardware, especially DefenceTech, was a hard sell. In fact, security and defense-related tech was not only out of favor, but often looked down upon.
In the end, despite having a groundbreaking concept, the timing was all wrong, and the management couldn’t adjust to overcome those obstacles. We stepped in, purchasing the assets after the company went bankrupt, and made a serious push to revive it. But even with our best efforts, it was still too early for the market. Now, with the patents expiring and other companies catching up, it’s clear that timing would’ve been more favorable today. Unfortunately, the window has closed. Game over.
Portendo Remote Detection was a great idea, it also attracted a lot of capital – still it failed. The core idea was to use Raman LIDAR or spectrography (Nobel price 1930 by C.V. Raman) to detect explosives and narcotics but on a distance. You have seen the swabs used in airport security, this was developing this technology without the swab and at a distance like 2-3 meters. 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 the pace. It was also a real Deep Tech company before the Deep Tech boom where some real problems with lasers, optics and detectors had to be solved. SaaS companies where hot when they started, ”hardware” was definitively not – DefenceTech was ice cold. Technology related to security and defence was not ”in” but worse is that it was 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. Timing would have been better now. Game over.
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