Y42 raises $31 million

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

It has been seven months since Y42's seed financing round, and now the Berlin-based company is raising more money: the start-up has received 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. Jeannette zu Fürstenberg's investment fund, La Famiglia, which was also involved in Y42's seed round, and the early-stage investor Data Community Fund are also participating. Irina Haivas, Partner at Atomico, sits on the start-up's advisory board with the financing 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 hard work and dedication," writes Y42 founder Hung Dang in his announcement. Since the last financing round, the number of employees has doubled to 65, compared to the Handelsblatt Dang said that he wants to build a team of up to 200 employees in Europe and the USA in the coming year.

Y42 brings together data for companies, analyzes it and prepares it graphically. The start-up has spent the past few months working on improved visualization and the 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 be used to further develop the Y42 platform.

Founder Dang is no stranger to the start-up scene: In 2018, he sold his company Mitra Intelligence to Eventim, which was dedicated to the satisfaction of visitors to the "Party like Gatsby" event series through data analysis. Dang recently attended a course at the Munich Center for Digital Technology and Management together with the founders of Trade Republic and Personio.