Twitter co-founder Biz Stone, Fuel Adventures back data science startup Gyana

Twitter co-founder Biz Stone, Fuel Adventures back data science startup Gyana
Photo Credit: 123RF.com
5 Mar, 2020

Data science firm Gyana has raised $3.9 million in a seed funding round led by Fuel Adventures and Twitter co-founder Biz Stone. 

Investment firm Green Shores Capital and U+I, a property developer and investor focused on regeneration, chipped in during the round, the London headquartered company said in a statement.

The company plans to deploy the fresh funds in growing its product user base while aiding expansion across Europe and India soon.

“As such, as businesses become increasingly tech-heavy, there is only ever going to be a growing need for No-Code platforms to take the burden off of development teams. We are also considering entering the Indian market soon as we see a huge market there,” said Joyeeta Das, co-founder, Gyana.

Founded in May 2015 by Joyeeta Das and David Kell, Gyana is a self-service data science platform that enables insights around locations and places, using big data and AI (artificial intelligence).

The company’s maiden product Neera is a human movement data tool, harvesting information from more than 80 anonymised data points. Gyana claims that  Neera has up to 15 years’ worth of client contracts secured and has generated a turnover of over £1 million.

Its another product Vayu is a tool designed to liberate the usage of data science for individuals and businesses alike. It will address the concerns of both data scientists and companies who do not have the resources to hire a full-time data scientist. Vayu is offered in a limited free format to the public and a costed business package. 

The company has raised $7.5 million in funding, to date. In 2018, Gyana raised $1.4 million from individual investors Serge Chiaramonte, Daniel Harnett, and Nigel Morris along with First Derivatives. In 2017, it raised $1.1 million from its existing investors along with AI Seed, Founders Factory, Quivira Capital and individual investor Rajiv Nathwani. 

The company also bagged seed funding worth $100,000 in 2015 from Oxford University Innovation and Almington Capital and $1 million from Quivira Capital in 2016.

Gyana’s clients include Vodafone, Barclays, EY, Pret a Manger, Knight Frank and the UK Ministry of Defense.