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Welsh Tech Start-up Lands $5million Investment for AI Platform

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Leading UK business intelligence start-up AMPLYFI recently closed a USD 5 million growth round led by QBN Capital. The round included existing private investors and the Development Bank of Wales, and brings the total raised by AMPLYFI to USD 10 million.

This latest investment will fund additional growth and expansion of AMPLYFI’s flagship platform, DataVoyant, across the Financial Services sector.

Currently, large organisations make a majority of their decisions based on traditional structured data purchased from a small pool of established providers. According to market research firm International Data Corporation, the global datasphere has doubled nine times in the past 10 years, and 95% of this data is unstructured.

“DataVoyant connects to any internal or external source and analyses both structured and unstructured data. It enables users to uncover market signals and trends, improve debt management, control risk better, and rapidly identify emerging opportunities. Our technology delivers unprecedented insights, well beyond what traditional providers are capable of”

said AMPLYFI founder and CEO, Chris Ganje.

The lead investor, QBN Capital, is a Hong Kong-based VC fund with a focus on European Fintech and Deeptech. It identifies ambitious start-ups that have the potential to expand to Asia and support them post-investment via their prestigious network in the region.

“We often hear that data is the new oil in the digital age. We all receive an overwhelming amount of data every day, but few people know what to do with this data,”

said Frank Tong, Managing Partner at QBN Capital.

“With their deep expertise in machine learning and NLP, AMPLYFI combines structured and unstructured data, turning it into powerful insights, giving business leaders access to the most meaningful and relevant information and enabling them to make better decisions. QBN is excited to be supporting a great Deeptech start-up that is revolutionising the way data is understood and used, in particular, in the Financial Services sector.”

Duncan Gray, Deputy Fund Manager of the Development Bank of Wales, says:

“The passion and energy that Chris, Ian and the team bring to revolutionising the way that business intelligence is conducted first caught our attention. To transform a whole industry, you need to have a bold vision, serious dedication and exceptional technology. The team has this and more. As a Welsh headquartered company, we are thrilled to continue backing AMPLYFI and to see them attract funding from global players.”