[Funding alert] Data science startup Gyana raises $3.9M from Twitter's Biz Stone, others

London-based data science startup Gyana on Thursday said it has raised $3.9 million (about Rs 28.5 crore) in Pre-Series A round of funding led by Fuel Adventures, Twitter Co-founder Biz Stone, Green Shores Capital, and U+I.

Gyana plans to use the latest round of funding to support growing its product user base while aiding expansion across Europe and India soon, a statement said.

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Founded in 2015 by Joyeeta Das and David Kell, the startup's first product Neera is one of the world’s most comprehensive human movement data tools, harvesting information from more than 80 anonymised data points. 

Commenting on the recent funding, Co-Founder Joyeeta Das, said,

“We see no-code in a similar light to the use of translation services for languages. As businesses become increasingly tech-heavy, there is only ever going to be a growing need for no-code platforms to take the burden off of development teams. We are also considering entering the Indian market as soon as we see a huge market there.”

The startup's AI tool is being used by industries ranging from property to retail and consulting. Its clients include Vodafone, Barclays, EY, Pret a Manger, Knight Frank, and the UK Ministry of Defence.

"We see no-code in a similar light to the use of translation services for languages. Not everyone on the planet is suited to being a developer, and even though newer generations are becoming more computer literate, we think there will still be a limited pool of professional, high-level developers," Joyeeta Das, Co-founder of Gyana, said.

She added that as businesses become increasingly tech-heavy, there is a growing need for no-code platforms to take the burden off of developer teams.

"We are also considering entering the Indian market soon as we see a huge market there," she added.

(Disclaimer: Additional background information has been added to this PTI copy for context)

(Edited by Suman Singh)