Thursday, June 30, 2022
Techiexpert.com
No Result
View All Result
  • Login
  • Register
Exclusive Videos
  • Tech news
  • Startup news
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain
  • Social Media
  • Tech news
  • Startup news
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain
  • Social Media
No Result
View All Result
TechiExpert
No Result
View All Result

YData secures $2.7M in funding to fast-track international expansion

Sony T by Sony T
October 12, 2021
in Startup news
Reading Time: 3 mins read
Why Data Analysis and Not Math Is A Prerequisite For Machine Learning
16
SHARES
211
VIEWS
Share on FacebookShare on Twitter

YData, the European tech startup that created the first data preparation platform to accelerate the development of AI solutions, has successfully closed a Seed funding round worth $2.7 million to fast-track its expansion across Europe and North America.

The funding round, which was led by Flying Fish Partners, a US fund that specializes in AI and whose partners are former Microsoft and Amazon Directors, also included the participation of existing investors Faber, EDP Ventures and Real Ventures.

Established in 2019, YData’s data preparation platform is the only product that brings together the major data science frameworks combined with proprietary tools for data access and profiling, data generation and labelling, to deliver better data quality for AI. Better data means fewer errors, biases and a representative set that ensures AI is built in a responsible manner. The company’s technology has already been adopted by organizations in the financial services, utilities, and telecoms sectors.

“Typically, data scientists spend 80% of their time just cleaning and preparing data, whilst 85% of AI projects fail, mainly due to poor data quality,” explains co-founder and CEO Gonçalo Martins Ribeiro.

“Our solution improves the quality of datasets, using state-of-the-art technology such as synthetic data generation, and helps data scientists build better datasets in a much easier and faster manner. Moreover, our Open-source community enables data scientists to contribute to the development of the technology and apply it to projects before committing to buying the platform.”

The investment will enable the company to step up its global expansion strategy, focusing on the United States, Canada, and the rest of Europe. As part of the next stage in the company’s growth, Ribeiro will move to the US to lead the expansion strategy, whilst the company’s development team will remain in Portugal. The strategy includes the growth of business development and product teams in the US and tech development teams in Portugal and across Europe.

Fabiana Clemente, co-founder and Chief Data Officer at YData, explains that “YData aims to help data science teams focus on what really matters, which is creating value for the company,” and for this, the YData platform “solves the problems at the data level that are always the most complex.”

“In the coming years, any company that is investing in Artificial Intelligence will need to start with YData to assess and improve the quality of existing data, before training a machine learning model,” she adds.

Frank Chang, Managing Partner at Flying Fish Partners spoke about his real-world experiences with the problem that YData solves: “While at Microsoft, our key pain point when building AI systems was data. The team spent a huge amount of time, money, and data science resources on ensuring we had high-quality data and the right sets of data to build the models we needed. The company built its own internal system to handle this, and I’m so excited to see YData tackling a very real problem that many companies will face, but don’t have the resources to solve internally. The amazing YData team and our first-hand experience with this major pain point is a huge reason why Flying Fish invested.”

The funding announced today comes after YData raised €500,000 in a pre-Seed investment in March last year led by Faber.

Tags: Funding NewsYData
Share6Tweet4Share1Pin2

Related Posts

Data Analytics startup USEReady launches a new centres
Startup news

Data Analytics startup USEReady launches a new centres

Neuron7.ai emerges from Stealth Mode, Raises $4.2 Million in Seed Funding
Startup news

Neuron7 Raises $10 Million Series A Funding to Revolutionize AI-Powered Customer Service

AI-based Mobile Time Tracking & Workforce Productivity with Enalytix
Startup news

AI-based Mobile Time Tracking & Workforce Productivity with Enalytix

Patented public transport app with Real-time public transport information – Tummoc
Startup news

Patented public transport app with Real-time public transport information – Tummoc

Aerotime raises $2M in seed funding led by Nexus Venture Partners
Startup news

Aerotime raises $2M in seed funding led by Nexus Venture Partners

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Most Read

  • How to Track Someone’s iPhone by Phone Number?

    How to Track Someone’s iPhone by Phone Number?

    328 shares
    Share 131 Tweet 82
  • Top 5 car automation trends to know

    152 shares
    Share 61 Tweet 38
  • What is windows modules installer ? How to Enable/Disable

    1234 shares
    Share 494 Tweet 309
  • Is Parody Coin investment a Good Investment?

    63 shares
    Share 25 Tweet 16
  • Tips to Reduce Your Website Hosting Costs

    871 shares
    Share 348 Tweet 218
  • How to Track Activities an Instagram account?

    81 shares
    Share 32 Tweet 20

Recent Stories

Does domain extensions impact SEO standards

Does domain extension impact SEO standards
Share4Tweet3Share1Pin1

Ways Data Analysis has changed customer reward programs

Ways Data Analysis has changed customer reward programs
Share4Tweet3Share1Pin1

Here’s why Deep Learning might not be enough for celebrity face recognition

Digital Learning face recognition
Share5Tweet3Share1Pin3

How Enterprise Blockchain can enable Privacy Preservation

How Enterprise Blockchain can enable Privacy Preservation
Share5Tweet3Share1Pin1
  • Terms of use
  • Privacy Policy
  • About Us
  • Contact us
  • Write For Us
  • Cookie Policy

© 2022 All Rights Reserved

No Result
View All Result
  • Tech news
  • Startup news
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain
  • Social Media

© 2022 All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Cookie Law Notice
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT