Cybersyn, an AI startup that is only one year out from its launch, has announced it has received a $62.9 million influx of capital from some of the most well-known investors in the world.
Cybersyn, a data startup founded in 2022 by Alex Izydorczyk, recently announced that it raised multi-million in capital from Snowflake Inc., Coatue Management, and Sequoia Capital.
According to a press release announcing the huge influx of cash, Cybersyn is “a company that sells proprietary economic datasets to investors, government agencies, and corporate clients.”
Cybersyn plans to use the funding to expand its small team — it has eight employees — and acquire additional proprietary data for expanded growth. In an interview with Reuters, Izydorczyk touched on the future of the company.
“We’re not trying to just be a data broker,” he said. “We’re trying to actually add value to the data we acquire and combine it.”
Among the big-name investors in the data space is Snowflake Inc., a publicly traded company and provider of cloud-based data warehousing solutions. It provides services such as data warehouse modernization, data exchange, and engineering and data science.
Christian Kleinerman, senior vice president of products at Snowflake, added the following:
“Cybersyn is a company that was built for this era of data sharing and moving with agility. We think of the marketplace as a core part of our offering. If someone is willing to be strategically aligned with us, we’re happy to invest.”
To date, Cybersyn has released both free and paid data sets on the Snowflake Marketplace. These data sets have potential buyers across various industries ranging from consumer goods to pharmaceuticals.
What Does the Scale of This Investment Mean for AI Startups?
Data has been described as “digital gold.” Some of the largest brands in the world, like Apple Inc., Meta Platforms Inc., and Amazon.com, Inc., all make much of their billions in the trillion-dollar data market. Amazon’s cloud storage does billions in revenue per year, supporting some of the largest companies in the world, and Meta has an advertising empire at their fingertips. This is likely why these AI startups like Cybersyn, whose solution traffic in Big Data, are having little trouble securing tens of millions despite being relatively new companies.
How BigRio Helps Bring Investors to AI Startups
There is no shortage of innovative young AI startups such as Cybersyn out there. Often the challenge is getting investors to see their potential and get them the capital they need to take their AI and data solutions to the next level.
BigRio prides itself on being a facilitator and incubator for such advances in leveraging AI to improve the digital world.
In fact, we like to think of ourselves as a “Shark Tank for AI.”
If you are familiar with the TV series, then you know that, basically, what they do is hyper-accelerate the most important part of the incubation process – visibility. You can’t get better visibility than getting out in front of celebrity investors and a TV audience of millions of viewers. Many entrepreneurs who have appeared on that program – even those who did not get picked up by the Sharks – succeeded because others who were interested in their concepts saw them on the show.
At BigRio, we may not have a TV audience, but we can do the same. We have the expertise to not only weed out the companies that are not ready for the market, as the sharks on the TV show do, but also mentor and get those that we feel are readily noticed by the right people in the AI investment community.
You can read much more about how AI is redefining Big Data in my new book Quantum Care: A Deep Dive into AI for Health Delivery and Research. While the book’s primary focus is on healthcare delivery, it also takes a deep dive into AI in general, with specific chapters on the marriage of AI and data technologies.
Rohit Mahajan is a Managing Partner with BigRio. He has particular expertise in the development and design of innovative solutions for clients in Healthcare, Financial Services, Retail, Automotive, Manufacturing, and other industry segments.
BigRio is a technology consulting firm empowering data to drive innovation and advanced AI. We specialize in cutting-edge Big Data, Machine Learning, and Custom Software strategy, analysis, architecture, and implementation solutions. If you would like to benefit from our expertise in these areas or if you have further questions on the content of this article, please do not hesitate to contact us.