AIN.UA editors reported that the Ukrainian developer of a no-code platform for analytics and machine learning entered the winter cycle of the Y Combinator accelerator in January 2021 and received $125.000 in investment.
It is worth mentioning that previously Datrics raised investments from ICU Ventures (the amount was not disclosed), as well as $200.000 from the QPDigital fund. In addition to this, Ilia Polosukhin from Near, Sigma Software Labs, Altair Capital, Oleh Rohinskyy from People.ai, Nick Belohorskyy and others have invested in Datrics.
Datrics is developing a no-code platform that allows companies of all sizes to perform high-level data analysis without any assistance of the programmers. The service is used to identify fraudulent transactions, assess creditworthiness and identify anomalies in the e-commerce industry. Moreover, it helps automate the process of business models implementation, which allows reducing the expenses.
As of January 2021, the free web version of the platform was used by 300+ users. The startup also reported that revenue from B2B clients is growing by 30% every month. As Datrics confined to AIN.UA, today the startup has dozens of enterprise and startup clients, many of them are the banking and fintech ones, such as Revolut. They also work with Ukrainian partners and clients, such as Mykhailo Kukhar's Ukraine Economic Outlook.
Y Combinator is one of the most reputable accelerators in the world. Alumni include Airbnb, Dropbox, Stripe, Coinbase and many more. Typically, startups receive $125.000 in seed investment in exchange for 7% of the company. But funding is far from the main thing startups can obtain from the accelerator. It creates an opportunity to make connections, share expertise and pitch an idea to influential investors.
