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European Data Service Startups Accelerating Data-Driven Innovations
Data service start-ups pillar the data market industry in Europe, making it the primary hub for data-driven innovations.
FREMONT, CA: European-based data analytics start-ups are rapidly growing in the global market with the increasing gross value expectation of €739 billion. The data-driven innovations help in increasing the continent's economic value. The digital data approach builds industrial competitiveness, opens opportunities for innovation, widens the scope for employment, and encourages social progress. Data market services in the continent channelize the attempts for fundraising, acceleration, standardisation, and global promotion. The data market portfolio results in extensive services to different sectors and industries while increasing the returns on capital investment.
A software-as-a-service start-up, Algolia based in Paris, offers product teams with resources and tools to create fast and relevant searches. The company successfully raises $74.3 million with its hosted search engine. It allows the developers to upload and sync the data to make it easily searchable for further configuration. A data science platform, Aylien from Dublin, provides an AI-powered content analysis solution. Its interface optimised by the eight tools for natural language processing receives the funding of €2 million. In addition, the organisation efficiently extracts valuable meaning from documents with the extra advantage of machine learning and information retrieval features.
London-based data intelligence solution provider, Avora combines the benefits of machine learning, provides business intelligence as a service. The innovation provider recently raised €2.9 million. The company offers data feed library to its customer and help to build data connections through its available flexible virtual data model. Boxever, a big data, and predictive analytics expert analyse customer data in the real-time and develop a single customer view to power one-to-one marketing and personalisation. The customer data platform connects with all customer data in real-time and allows data viewing from all customer channels including marketing commerce, service, and operational.
Raising the fund of €1 million at the seed round, FinScience, a data analytics platform for financial sector uses AI algorithm to collect and analyse the massive amount of structured and unstructured data for the long term. The data-driven fintech company leverages data intelligence, data modelling, and data governance solutions and helps to enhance asset management, wealth management, credit management, investor relations marketing, and sales actions. A Swiss data science company, Knime develops an open solution for data-driven innovation. The solutions help organisations for discovering the hidden data, mining fresh insights, and predict possible future.
Based in Galway, Siren, the data science intelligence company leverages relationships across numerous datasets and create accessible data. It delivers the reports with analytics, knowledge graphs, and real-time alerts in a dashboard. Providing telecoms and markets the advantages of privacy-compliant customer data for advertising, Zeotap, the big data platform has raised €21.4 million. The platform offers an end-to-end solution to understand and activate customer data across the network.
Data market services initiative help the European start-up ecosystem to accelerate in the global data market while giving opportunities to the data and entrepreneur skills. The adoption of new technologies helps the continent to overcome the data skills gaps among the high-qualified workers and standardising the quality of product and service delivery level. The impact of data market services offer the start-ups for partner finding, matchmaking, venture capital raising, training, and coaching. The facilities improve standardisation and interoperability of the cross-sector applications and technology convergence.