French startup that uses AI to normalise data, YZR has raised $12 million funding. The Series A round was co-led by Nauta Capital and Orange Ventures and saw the participation of 50 Partners. The cash infusion will fuel its next phase of expansion, especially in the U.S, where it plans to set up a subsidiary.
Founded in 2019 by Sébastien Garcin and Jean-Philippe Poisson, the startup aims to simplify the work of the data workers who are currently manually standardising data using spreadsheets.
The company has earlier raised over $2 million in seed funding in 2021 which saw the participation of French tech investors such as Frédéric Mazzella (Blablacar), Laurent Ritter (Voodoo) and Jean-Baptiste Rudelle (Critéo).
Sébastien Garcin, president, YZR said: “There’s always more tools and more algorithms to make data, but yet no solution that would allow these tools to communicate with each other. The times when data scientists would take long hours every day to normalise data are over.”
Pratima Aiyagari, venture partner, Nauta Capital said: “As new data streams are being constantly generated by all processes, it’s ever more important to normalise the data to a common standard before we can analyse and gather business-critical information from it. Different business entities within an organisation need a common data format so they can all speak the same language and prep the data for business analysis.”
Jérôme Berger, president and managing partner, Orange Ventures added: "YZR’s work will help us to multiply the capacities of use of data - a highly strategic sector to which we at Oranges Ventures attach great importance.”
The company currently works with the likes of brands such as Monoprix, Clear Channel, Aramis Auto and BNP Paribas.
Would you like to write the first comment?Login to post comments