Aiming To Solve The Headache Of Data Analytics, Actable AI Nets Funding Of More Than €1 Million
London-based data analytics startup Actable AI has gathered the funding of €1 million to enable the users to analyze their data with advanced AI technology.
Organizations around the world are utilizing predictive analytics or data analytics to predict future trends. As per the report published by Facts and Factors the global predictive analytics market is expanding at the CAGR of 24.5%. This expedited growth and stats indicate that by the end of 2026 the market will reach the size of $22.1 billion. This is one of the main reasons that data analytics startups are budding. One such startup is Actable AI which aims to inculcate AI in data analytics to liberate the company from the headache of data analytics.
The startup enables spreadsheet users to analyze their data with advanced AI-based analytics. The unique thing about this startup is that it allows the users to comprehend data directly on Google Sheets and Excel without any advanced knowledge of machine learning or programming. The company, in short, helps the platforms make data analytics more accessible for organizations, enterprises, and young startups by extracting the maximum value from their data and ending their challenges especially related to big data.
The London-based startup was founded in 2020 by Dr. Armen Poghosyan, who is the CEO and Co-Founder of Actable.
The company has also successfully raised a considerable amount of funding which is more than €1 million. The funding boost was led by Begin Capital, Charlotte Street Capital, Malta enterprises. With the inclusion of the number of angel investors from various countries around the globe such as the UK, US, and Singapore. The CEO and Co-Founder of Actable highlighting the startup’s contribution in changing the way of business intelligence said
“People tend to think of spreadsheets as simple tools, not suitable for advanced analytics tasks. We want to change this misperception and show people that they can actually continue using spreadsheets to do serious analytics projects, in the same way as a data scientist equipped with python can.”
The startup empowers the users to obtain data insights with eight different AI-based analytics such as regression, time series forecasting, sentiment analysis, data cleaning, and correlation analysis etc.
The company has also introduced a stand-alone web app that can handle datasets that are too large for spreadsheets. Actable AI’s vision is to make their no-code advanced analytics engine easily integrate with third-party tools, making it as easy as possible for non-technical users.