DailySocial recently informed that one of the East Ventures portfolios, big data analysis startup Bonza, has received an additional investment worth of $500 thousand (over 7.2 billion Rupiah) from Future Shape. There has been no official statement until this news published.
Future Shape is a French based VC that invests in engineers and scientists developing deep technology. They participated in Finantier’s seed funding last month, which is also one of East Ventures’ portfolios.
Previously, East Ventures led Bonza’s $2 million seed funding round with Elev8.vc in May 2021. East Ventures was also an early investor in the startup, which was started last year by Elsa Chandra and Philip Thomas.
In the announcement of company’s last round, Bonza’s CEO, Elsa said that the fresh money is expected to accelerate the company’s vision to become a leading data company in Southeast Asia. The company is developing a platform to support companies to better process data and use AI solutions through a no-code platform (does not require coding).
Value proposition
The no-code approach developed by Bonza will enable technical and non-technical teams to build and deploy big data-driven solutions.
Elsa said, the distinction is that its platform removes the frictions and barriers faced by organization when creating and deploying data-driven solutions for the first time. Organizations can integrate multiple data sources within the organization, then build and deploy machine learning models in a responsive user interface.
Users can automate long-winded data integration to generate report, reducing implementation time of AI solutions from months to days. The implementation includes helping fintech service owners build real-time fraud detection machines and monitoring tools for fraud operations teams to gain insights from different places and unstructured data sources, in order to reduce fraud.
Big data potential
The market share for big data services has a tendency to grow from year to year, not least in the Asia Pacific region. In 2020, its market size is projected to reach $138.9 billion and will increase to $229.4 billion in 2025.
The main factor for this market’s growth is the availability of abundant [digital] data in organizations. Through the digital transformation program launched, business people always try to be more competitive in formulating strategies. One approach is to convert this data into useful insights. Through big data analysis, a business can also improve operational efficiency.
Today’s big data tools have the capability to process structured and unstructured data from a variety of sources, such as logs in apps, social media, service forms, and even from third-party data sources.
Most service providers provide a cloud-based platform, in the form of SaaS that can be subscribed according to the certain specifications. With specific solutions similar to Bonza continue to emerge, service fulfillment in the global market is still dominated by technology giants such as Microsoft, Teradata, IBM, Oracle, Google, Cloudera, Salesforce, to SAP.
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Original article is in Indonesian, translated by Kristin Siagian
Gambar Header: Depositphotos.com
