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Startup Quantexa attracts new investors to develop AI platform
UK startup Quantexa, one of the leaders in the local DI market, has increased its valuation. The company has completed a Series F funding round, raising US$175 million. This brings the startup’s valuation to US$2.6 billion.
Teachers’ Venture Growth (TVG), part of the Ontario Teachers’ Pension Plan, was a major investor. It invested CAD 255 billion. Current investor British Patient Capital also participated in the round.
As part of the deal, Ara Yeromian, Managing Director of TVG, joined Quantexa’s board of directors. Other board members include representatives from Warburg Pincus, AlbionVC, Dawn Capital and Evolution Equity Partners.
Quantexa plans to use the funds to focus on a number of key strategic initiatives:
- to strengthen platform development and functionality;
- to increase the startup’s market presence in North America;
- and to accelerate its M&A plans.
In addition, the investment will help improve service levels for current and future customers. Quantexa’s mission is to help private and public companies stay competitive. To do this, the startup offers an AI tool for business decisions.
It is worth noting that the current funding continues the positive momentum the company has developed. The startup’s annual revenue has exceeded US$100 million. In addition, the company managed to raise US$129 million in its last funding round in 2023. As a result, Quantexa has officially achieved unicorn status at a valuation of US$1.8 billion.
Product features
In the near future, the startup plans to launch the Q Assist solution. This is an AI assistant that enables improved analytical processes. Q Assist users can interact with the platform using natural language. This approach expands the context and allows the AI to formulate more precise queries. This rises the efficiency of research. The platform supports business risk assessment by allowing analysts to ask the AI various research-related questions. This significantly speeds up the process of identifying potential difficulties and risks.
Quantexa provides clients with an effective tool for in-depth analysis. This increases the transparency of operations and reduces the possibility of errors in the development strategy.
Vishal Marria, founder of Quantexa, noted the uniqueness of the technology. According to him, the startup’s AI model helps transform analytical operations. The investment raised will unlock the potential of artificial intelligence in the targeted industry.
The startup plans to strengthen the platform’s deployability and expand its functionality. This will help attract a new category of customers and provide a high level of service. Quantexa aims to create an ecosystem where AI is fully responsible for data analysis and optimisation.