Nigeria’s Voyance Raises $500k To Build Data Infrastructure For Businesses
In an oversubscribed pre-seed round, Nigerian data science startup Voyance has raised $500,000. Beta.Ventures, an early-stage investment business that supports leading tech entrepreneurs and tech-enabled startups in Nigeria, led the $500,000 pre-seed round.
Zedcrest Capital, a venture investing initiative of the securities and investment firm Zedcrest Group, HoaQ club, a community of creators and operators supporting entrepreneurs in building scalable businesses for Africa and its Diaspora, and Assembly Investors were among the other investors in the round.
Individual investors like Fola Olatunji-David, the co-founder and CEO of Ejara, Chidinma Iwueke, a principal at QED Investors, Seni Sulyman, the founder of Black Ops, and Nelly Chatue-Diop, the co-founder and CEO of Kickstart Africa.
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“Data has become one of the most important business assets in the modern era. 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. The secret behind the widely loved Voyance product combines the duality of technical sophistication and consumer-grade experience,” Ovo Emorhokpor, General Partner at Beta.Ventures, said.
A Look At What Voyance Does
Voyance is a data science startup founded by Ebot Tabi in 2019. It develops unique solutions to help companies extract value from their data and help B2B enterprises become data–driven.
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Aside from the funding, the company also announced the launch of Manhattan DB and Sigma, two flagship products.
Voyance is making data science accessible to organizations through Manhattan DB and Sigma, which unifies data engineering, machine learning, and business processes to drive innovation.
Businesses benefit from Manhattan DB’s efficient, scalable, and fully managed data infrastructure. Manhattan DB can be used by data analysts, data scientists, data engineers, and machine learning engineers to store and analyze terabytes and petabytes of data, develop machine learning models, and deploy with low operational overhead.
Sigma, on the other hand, is a risk operations platform that can be used to solve challenges like transaction monitoring, compliance, and anti-money laundering. Sigma enables firms to quickly innovate and scale without increasing risk.
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Sigma can also be used by businesses to manage the risk of doing business online. The 109 percent growth in online transactions in 2021 is mirrored by a 23 percent increase in online fraud, according to the Feedzai Financial Crime Report.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer