Data analytics and visualisation tech firm Brytlyt has raised $4m (拢3.2m) in Series A funding from global technology investor Amadeus Capital Partners and Finch Capital, following a series of seed rounds.
The London firm鈥檚 technology is designed to help firms with billion-strong record data sets such as telcos, retail and finance, by replacing legacy systems which are unable to handle analyses of such large data in real-time.
Founded in 2014, Brytlyt鈥檚 patent-pending software and AI, combined with GPUs, is designed to derive insights 1,000 times faster than those legacy systems.
It claims to be the only company to combine AI and open source relational database management system PostgreSQL for GPU-powered data analytics.
Its products include SpotLyt, a visualisation tool designed to handle complex queries on billions of rows of data and delivering results in milliseconds in the form of graphics, maps and charts.
Brytlyt鈥檚 founder and CEO, Richard Heyns said, 鈥淲e are incredibly excited to gain support from Amadeus and Finch for the next phase of our company’s growth.
鈥淎nalytics and data are growing exponentially and it鈥檚 clear the future of processing must lie in GPUs, with their enhanced capacity for data crunching and deep learning.鈥�
Brytlyt said its software can reduce the time required for DNA sequencing and mitigating the effects of COVID-19, by observing user behaviour, tracking social distancing, managing the logistics of Personal Protective Equipment and contact tracing.
Nick Kingsbury, Partner, Amadeus Capital Partners said, 鈥淭he Brytlyt team has built very impressive high-performance database technology. Amadeus is pleased to be supporting Brytlyt as they invest in product innovation, enabling customers to extract real-time, actionable insights from massive data sets.鈥�
Andrei Dvornic, Investment Manager at Finch Capital said, 鈥淏rytlyt is enabling companies to leverage machine learning and big data analytics at great scale in order to solve the world’s hardest problems. Richard and the team are talented tech developers and we are delighted to join them on their journey.”