The big data and AI startup based in London has sold its “human mobility data” platform NEERA, used by Barclays, Pret, UK Ministry of Defence, to Fetch Capital Partners for an undisclosed sum.
The platform provides businesses across multiple verticals ranging from retail to finance and real estate the means to parse footfall and other geospatial and human mobility data, affording businesses unique insight on which to judge the viability of a given location, where to open or reposition stores or how to price a certain piece of property.
NEERA has now been acquired by Fetch Capital Partners for an unspecified amount with no indicators.
The platform was built in 2016 while co-founders Joyeeta Das and David Kell were studying at Oxford University. After forming Gyana with other alumni and business partners, the NEERA platform went to market in 2017, making an immediate impact. Gyana acquired an impressive roster of clients by 2019, including Barclays, Pret a Manger, McKinsey, BCG, EY, PwC, UK Ministry of Defence, Colliers, Ellandi, Knight Frank, Realty Income, Vodafone, and others.
Speaking of the sale, Gyana said in a statement: “It was a rollercoaster ride to figure out the proptech market, and we enjoyed the incredible exposure along the way, winning several awards, such as EG Investment Award for Technology, MSDUK Innovation Challenge Top 3 Disruptive Startups, and Mayor of London’s TechInvest Top 10 AI Startups in London.
“Exiting early was a pleasant surprise. The capital will provide the company with a more stable footing and higher valuation going forward.”
The Gyana management team will now turn its attention to the latest innovative platform, VAYU, an application that enables any person or business to perform complex data science tasks regardless of talent or budget. VAYU removes the need for programming languages, using an intuitive graphical user interface and sophisticated, AI-powered drag and drop functions instead, to facilitate data insight and clarity.
The company said: “Most founders like to exit the team and the brand but we kept both to launch our next platform, which has already garnered much success. Our user base is fast-growing, and we’re now busy rolling out new features and functions to satisfy the thousands who choose VAYU for their data discovery needs.”
Fetch Capital Partners said: “It’s a fantastic opportunity to build on an already impressive product and we are excited to grow the platform locally and abroad with an experienced management team together with support from Joyeeta and her team.”
CEO and co-founder Joyeeta Das said: “We are thrilled to partner with such progressive partners, but it’s a bittersweet feeling to part with something you create. We’re very excited to see our product NEERA find a great home. Fetch Capital Partners will take it to global corners I am sure. We are now focused on our next endeavour, VAYU.”
Gyana is a London based startup making technology that democratises big data. Its flagship tool VAYU helps anyone become a data scientist in minutes. Since 2016, Gyana has been at the forefront of demystifying deep tech. With its cutting-edge, no-code platforms, Gyana is facilitating data insight and clarity for millions of people across the globe, ushering in a new era of citizen data science.