Y42 raises $31 million

The Berlin-based start-up received 2.9 million US dollars seven months ago. Now Y42 has gained international investors.

It's been seven months since Y42's seed funding round, and now the Berliners are raising money again: The start-up is receiving 31 million US dollars from Atomico and Insight Partners, the leading investors in the round. Atomico is owned by Skype founder Niklas Zennström and is based in London. Also on board are Jeannette zu Fürstenberg's investment fund, La Famiglia, which also participated in Y42's seed round, and early-stage investor Data Community Fund. Irina Haivas, a partner at Atomico, sits on the startup's advisory board with the funding round.

"None of this would have been possible without the constant efforts of our ambitious team. It is a great pleasure to be surrounded by so much diligence and dedication," Y42 founder Hung Dang wrote in his announcement. Since the last round of funding, the number of employees has doubled to 65, vs. Handelsblatt Dang said he plans to build a team of up to 200 employees in Europe and the U.S. in the coming year.

Y42 brings together data for companies, analyzes it and prepares it graphically. The start-up has spent the last few months working on improved visualisation and extended integration of platforms and interfaces. The Berlin-based company thus enables companies to carry out data analysis internally. The money from the current financing round will also flow into the further development of the Y42 platform.

Founder Dang is no stranger to the startup scene: In 2018, he sold his company Mitra Intelligence to Eventim, which was dedicated to satisfying attendees of the "Party like Gatsby" event series through data analytics. Recently, Dang joined founders of Trade Republic and Personio for a course of study at Munich's Center for Digital Technology and Management.