Yes!Delft AI startup Dutch Analytics has received two million euros in new investment. This funding round was led by tech investor Global Founder Capital with additional backing coming from Dutch construction company BAM. The new funds are designed to help the Hague-based startup expand its team, further develop Xenia, its AI platform, as well as to grow its European and international customer base.
Xenia was born from the experience that many companies struggle to get their algorithms up and running. An estimated 90 percent of all developed AI models never make it into operation. By offering a product that tackles this problem, Dutch Analytics enables both small and large organizations to put their AI to use in an easy, scalable and secure manner. With clients like BAM, the startup has been able to demonstrate the value of utilizing an increasing number of AI models to drive their daily business decisions. Xenia has proven its value as a backbone for AI applications like condition monitoring, object recognition and forecasting.
“Many organizations develop powerful AI models with substantial value, but they struggle to get them up and running. We see that it takes on average half a year to put an AI algorithm to work, of which only 10 percent will be implemented successfully,” says Dutch Analytics CEO Yannick Maltha. “Many models therefore never materialize, resulting in unnecessary effort and a waste of resources. Data science models only add real value when they are operational and fully integrated with existing business processes.”