NIGERIA – Voyance, a platform that helps businesses build AI infrastructure and models for data predictions, has raised US$500,000 pre-seed funding to improve data unification in Africa.
The funding round was led by Beta. Ventures, an early-stage investment firm supporting leading tech entrepreneurs and tech-enabled start-ups in Nigeria.
Other participating investors included Zedcrest Capital, HoaQ club, and Assembly Investors, as Fola Olatunji-David, Chidinma Iwueke, Seni Sulyman, the founder of Black Ops, and Nelly Chatue-Diop.
The new funding will be used to build Databrick and Datarobot to help businesses stay ahead of competitors.
In lieu of this, the startup is launching its two flagship products, Manhattan DB and Sigma to enhance data accessibility for the unification of data engineering, machine learning, and business processes.
“Voyance is building critical infrastructure to enable small and large businesses to turn their raw data into advanced analytics and design machine learning models to make insightful business predictions,” said Ovo Emorhokpor, General Partner at Beta Ventures.
The company is making data science accessible to businesses to accelerate innovation by unifying data engineering, machine learning, and business processes.
Manhattan DB provides efficient, scalable, and fully managed data infrastructure to businesses.
Data analysts, data scientists, data engineers, machine learning engineers can use Manhattan DB to store and analyze gigabytes and petabytes of data, build machine learning models and deploy with zero operational overhead safely and easily.
Sigma is a risk operations platform that can be used to address business problems such as transaction monitoring, compliance, and anti-money laundering.
Sigma allows businesses to innovate and scale quickly without increased risk.
The advantage of analytics to businesses includes making better decisions, improving relationships with customers and other business partners or stakeholders, and enabling key strategic initiatives.
Since the pandemic has compelled more businesses and customers to go online, access to quality data and analytics like the ones Manhattan DB provides is critical to the success of businesses.
According to Feedzai Financial Crime Report, the 109% increase in online transactions in 2021 is matched by a 23% increase in online fraud.
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