Based out of Delft, Dutch Analytics has developed an Artificial Intelligence platform that integrates massive amounts of data and facilitates data analysis. In the recent development, the company has secured €2 million funding led by Global Founders Capital, one of the leading venture capital (VC) firms in Europe and Dutch construction company BAM.
Roel Janssen, Partner at Global Founders Capital, said:
As the lead investor in this round, we strongly believe in the potential Xenia holds for the AI market worldwide. We see Dutch Analytics as an ambitious, young company whose international and multidisciplinary team has what it takes to make it on the global stage.
The investment comes at a time when Dutch Analytics is looking to expand its team and further develop Xenia, its platform that helps companies bring their AI algorithms into operation and manage and monitor them throughout their lifecycle. The idea behind its platform Xenia was born from the experience that many companies struggle to get their algorithms up and running.
Yannick Maltha, CEO of Dutch Analytics, said:
Many organisations develop powerful AI models with substantial value, but they struggle to get them up and running. We see that it takes, on average, half a year to put an AI algorithm to work, of which only 10% will be implemented successfully. Many models, therefore, never materialise, resulting in the unnecessary effort and a waste of resources. Data science models only add real value when they are operational and fully integrated with existing business processes.
Notably, the company is planning to use the money to grow its customer base in Europe and beyond. If you are unaware, Dutch Analytics was founded in December 2016 and has grown fast over the years. The company now employs 20 people, including three co-founders.
Maarten van Raaij, Director Infra Rail at BAM, said:
AI is and will be of more and more important for the construction and maintenance industry. With this investment, BAM confirms the value of Dutch Analytics for us and other companies.
We are very excited to have Global Founders Capital and BAM on board as investors, as both of them bring not only money to the table, but also knowledge and expertise. We are continuing our mission to make artificial intelligence accessible to our customers across borders and industries.
Main image credits: Dutch Analytics
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