Data crunching AI analytics firm Brytlyt raises £3.2m
Data analytics and visualisation tech firm Brytlyt has raised $4m (£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’s 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’s 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’s founder and CEO, Richard Heyns said, “We are incredibly excited to gain support from Amadeus and Finch for the next phase of our company's growth.
“Analytics and data are growing exponentially and it’s clear the future of processing must lie in GPUs, with their enhanced capacity for data crunching and deep learning.”
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, “The 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.”
Andrei Dvornic, Investment Manager at Finch Capital said, “Brytlyt 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."