One Data closes EUR 32 million Series B Extension to scale its next-gen data product management platform internationally – a key enabler for meaningful GenAI, AI, Business Intelligence and Process Mining
Leading European deep tech and software investors Vsquared Ventures, Molten Ventures and HV Capital are co-leading this funding round with the support of existing investors.
Data access and processing is still one of the major roadblocks for companies to leverage data and generate value from AI applications, One Data empowers the smart collection, connection and usage of data for all data-driven and business applications, especially for Gen AI.
One Data will use the funds to replicate its success in the DACH region and scale internationally.
Munich/Passau, Germany, July 16, 2024 – One Data, the data management software company, announced today the completion of its EUR 32 million Series B extension round, co-led by leading European deep tech and software investors Vsquared Ventures, Molten Ventures and HV Capital. Offering the first-to-market AI-powered Data Product Builder, One Data is on its path to become the category leader for Data Product Management. The company has a large portfolio of blue-chip customers across the DACH region, including BioNTech, thyssenkrupp and SCHOTT. One Data will use the additional capital to further strengthen its leading position in data product management, to expand its offering into international markets and to foster its strategic partnerships, to offer access to its product to an even larger customer base.
Data serves as the lifeblood for various technological advancements. Proper access and management of data is at the heart of enabling AI, GenAI, Business Intelligence and Process Mining. However, it is still a major hurdle for many businesses. According to recent research by Bitkom, in Germany alone only 6 percent of companies* are harnessing the potential of the data available to them. Simultaneously, more than half are aiming to implement a data-driven business model within the next two years. The vast amounts of time spent on requesting, finding, integrating, and preparing data significantly slows down the implementation of artificial and business intelligence.
Dr. Andreas Böhm, Founder and CEO of One Data, said: “The next major jump in productivity can only happen if businesses start using data more effectively. Our new and unique technology turns siloed data automatically into reliable, valuable data products, enabling companies to establish a consistent data governance policy. This leads to more stable supply chains, better forecasting, faster R&D processes and highly efficient data teams, who are a true asset for their businesses and whose work now becomes visible through our software. As a result, the corporate value they generate through data products is self-evident. We are delighted by the trust and support shown by our new investors. We can now achieve our mission much faster: to enable many companies globally to use data profitably and create substantial business value. Additionally, our investors` expertise in the fields of deep tech, software and scaling, as well as their strategic approach, knowledge and contacts will be a huge value to One Data on our growth journey.”
One Data’s AI-powered Data Product Builder enables businesses to build, manage, and share Data Products while saving around 80% of time spent, positioning them at the forefront of their industries. It leverages AI-technology to collect, analyze and connect data points, therefore increasing the quality of the insights generated, supporting companies across all industries, including retail, manufacturing, pharma, chemistry and automotive. One Data has already been named as a Cool Vendor in AI Core Technologies among the top 5 vendors globally and as a stand-alone vendor focused on data product creation by Gartner**.
Benedikt von Schoeler, General Partner at Vsquared Ventures, said: “One Data can become the key enabler for companies to leverage the full potential of their software applications, including GenAI and BI. Both in Europe and abroad there is vast potential in this huge emerging market, as smart data management is a prerequisite for any company looking to stay ahead in its industry.”
Nelly Markova, Partner at Molten Ventures, added: “One Data has built a world class AI-native platform that allows business users to harness the value of data in an automated fashion. The platform is already trusted by many blue-chip customers, and we are looking forward to support Andreas and the One Data team to scale the business globally.”
David Kuczek, General Partner at HV Capital, stated: “One Data is revolutionizing data management by pioneering data products. With years of consulting experience solving intricate data challenges, they are uniquely positioned to address customer pain points. The global growth potential is immense, driven by the increasing data demands of LLMs.”
* Studie Bitkom: Deutsche Unternehmen nutzen ihre Daten kaum: https://www.bitkom.org/Presse/Presseinformation/Datenoekonomie-Deutschland-2024#_
** Gartner, “Cool Vendors in AI Core Technologies”, Soyeb Barot, Chirag Dekate, Farhan Choudhary, Sumit Agarwal, Julian Sun, Erick Brethenoux, Svetlana Sicular; 11. Mai 2021.
https://onedata.ai/wp-content/uploads/2024/02/onelogic_pm_gartner-cool-vendor_new.pdf
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