High-Tech Gründerfonds (HTGF), MBG and Wayra invest EUR 800,000
October 12, 2017
AI start-up 5Analytics receives follow-up financing
5Analytics, the start-up behind Telefónica Germany’s Analytical Insight Center (AIC), has secured a new round of financing from a prominent group of investors. The Stuttgart-based start-up plans to use the fresh capital to expand its team, develop its products and acquire new clients. In addition to Wayra, HTGF and MBG Mittelständische Beteiligungsgesellschaft Baden-Württemberg within the Seedfonds BW are among the investors participating in the latest financing round for a company that was only founded last year.
“The completion of the follow-up financing round, which saw the significant participation of prominent investors, is testimony to the success of 5Analytics,” said Christian Lindener, Managing Director at Wayra Germany. “The team has found a way in which data analysis can be easily and swiftly integrated into day-to-day business.”
5Analytics offers an operating system for artificial intelligence which can be used across all industries, helping companies to automate processes in an existing, in-house IT landscape. Instead of time-consuming manual programming, implementation is comparatively easy. The AI platform takes on all tasks from scaling, authentication, authorisation and connection management to the abstraction of existing data sources.
Through its Analytical Insights Center, Telefónica Germany was the first major client of 5Analytics. The AIC makes company, market and competition data available for everyone – everywhere and immediately. Employees therefore no longer need to wait for studies to be created manually or the approval of superiors. Instead, they are able to gather valuable information automatically and make ad hoc decisions to the benefit of clients.
Several thousand employees at Telefónica Germany now use the AIC. For example, the technology helped Telefónica Germany’s social media team in spring to find the ideal time to launch the O2 Free 15 campaign.
“The crucial aspects are the automation and embedding of machine learning models in a real-time environment with real-time data,” said Thorsten Kühlmeyer, Head of Business Analytics & Artificial Intelligence at Telefónica Germany. “Automated digital processes require automated results. 5Analytics’ AI solution helps to close the gap between algorithms and real time.”
In addition to Telefónica Germany, 5Analytics counts pharmaceutical company Merck KGaA and document management service provider TA Triumph-Adler among its clients. 5Analytics has already won numerous awards for its AI solution, including the Innovationspreis-IT Mittelstand innovation award and the Gründerpreis Baden-Württemberg award for start-ups.
“The company’s group of renowned clients is evidence of just how relevant 5Analytics’ product is,” says Tobias Schulz, Investment Manager at High-Tech Gründerfonds.
5Analytics is a leading AI software company that enables companies to automate important commercial decisions with the help of artificial intelligence and successfully implement digital business models. But we are more than a technology provider. Our consulting team accompanies the complete implementation process and supports our customers to get the most out of their data. 5Analytics, headquartered in Stuttgart and Düsseldorf, works with numerous renowned customers (e.g.Telefónica, Merck und VW) and was recently awarded the bronze Stevie Award and the Innovationspreis-IT. Find out more on our homepage: http://5analytics.com
About Wayra Germany
Wayra, the start-up track from Telefónica, promotes growing, innovative start-up teams and technology companies, particularly from the fields of Internet of Things, data analytics, cyber security and artificial intelligence (AI).
Wayra Deutschland, located in the center of Munich, is offering funding and training, working space and events as well as direct access to Telefónica as a potential customer or partner.
The Munich hub has an impressive track record in advancing 38 start-ups to date. In 2017 alone, the AI solutions start-up Neokami was sold to relayr; Munich-based AI start-up ebot-7 was able to implement its solution for one of Europe’s biggest telecommunications companies; and Automotive supplier Continental took over the Wayra start-up Parkpocket.
Wayra is a global initiative with presence in ten countries including locations in Madrid, Barcelona, London and Santiago de Chile.
About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is Germany’s most active seed stage investor. With roughly EUR 820 million under management in three funds, HTGF provides financing for young, innovative technology-driven companies and actively supports them in implementing their business ideas. The company is active in a wide range of fields. The focus of its three investment teams is on hardware-related engineering, life science, chemicals and material science, as well as software and the internet. Investors in this public-private partnership include the German Federal Ministry of Economics and Energy, the KfW Banking Group and renowned corporate investors.