Fresh capital for data warehouse technology form Data Virtuality GmbH
Technologiegründerfonds Sachsen (TGFS) and High-Tech Gründerfonds (HTGF) together invested around 1 million euros in the Leipzig-based software company Data Virtuality GmbH. The funding will be used to further develop and market the company’s innovative software solutions for the automated creation of data warehouses.
Data Virtuality GmbH develops and markets software which enables companies to automatically collect and process data from different data sources. Analysing data from own business activities, clients, and competitors becomes increasingly important to gain a competitive edge. With ever increasing amounts of data from multiple sources, big data analysis has become one of the fastest growing market segments in IT. Data Virtuality enables its customers to set up data warehouses automatically – and thus reducing manual effort, implementation time and costs tremendously in comparison to state-of-the-art solutions on the market.
The reduction of time and costs as well as increased flexibility in modifying data sources open up novel markets, allowing medium-sized business to also introduce complex business intelligence systems based on these data warehouses.
Dr Nick Golovin, Managing Director and founder of the company explains: “It’s not just the initial creation of a data warehouse that is expensive. Many businesses are dissatisfied with their existing data warehouses because the solutions aren’t flexible enough. For instance, in cases of mergers and acquisitions, data warehouse integration significantly delays the delivery of business-relevant information.”
Data Virtualizer, the lead product from Data Virtuality, collects and collates data from the various data sources, and finally creates a customer-tailored data warehouse automatically. The software solution allows reductions in time and cost of 60%-80%. Another advantage is that Data Virtualizer quickly adapts to changing requirements in a business, adapting itself automatically. Moreover, Data Virtualizer allows real-time access to the latest company data, which is only possible with expensive add-on tools when using state-of-the-art technology on the market.
About Data Virtuality GmbH
Data Virtuality GmbH develops and markets a software that allows to automatically collect and process data from different data sources. In this process, a data warehouse is automatically created. The Leipzig-based company recently introduced their product for customers in the consulting and e-commerce sector, where fast and reliable data availability is a crucial factor for a client’s success. www.data-virtuality.com
Tel.: +49 151 167 404 05
About Technologiegründerfonds Sachsen (TGFS)
TGFS is a venture capital fund with a volume of 60m EUR, investing in early stage high-tech businesses located in the free state of Saxony/Germany. In addition to receiving funding, portfolio companies benefit from the extensive experience and industry network of the fund management which has guided more than 100 start-ups during the past two decades. Since its inception in 2008, TGFS has funded 30 companies from a vast array of industries.
About High-Tech Gruenderfonds
High-Tech Gruenderfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High-Tech Gruenderfonds invests EUR 500,000 in the seed stage, with the potential for up to a total of EUR 2 million per portfolio company in follow-on financing. Investors in this public/private partnership include the Federal Ministry of Economics and Technology, the KfW Banking Group, as well as thirteen industrial groups of ALTANA, BASF, B. Braun, Robert Bosch, CEWE Color, Daimler, Deutsche Post DHL, Deutsche Telekom, Evonik, Qiagen, RWE Innogy, Tengelmann and Carl Zeiss. High-Tech Gruenderfonds has about EUR 563 million under management in two funds (EUR 272 million HTGF I, EUR 291 million HTGF II).