Statistics, computer science, mathematics, engineering, and are all combined in data science.
Several of the game-changing, innovative ideas based on data science aim to enhance people’s quality of life as well as the effectiveness of processes and services, making it a developing subject that investors are interested in.
Zindi, a professional network of data scientists based in South Africa, has secured a US$1 million seed fundraising round to assist it to continue its rapid expansion.
The startup is a community of over 34,000 data scientists that use machine learning and Artificial intelligence (AI) to solve some of the world’s most important economic and societal concerns.
It was founded in 2018 by Celina Lee, Megan Yates, and Ekow Duker with the concept that data science should be available to all.
Firms come to Zindi to find the right answer and people for their businesses. Its registered customers come from 150 different countries, and Zindi’s user base has steadily increased in the last year. The company has completed over 100 tasks and provided over 100 machine learning solutions to customers.
After receiving a US$1 million seed round led by San Francisco-based Shakti VC and including Launch Africa Ventures, Founders Factory Africa, and five35, the firm now wants to expand. Zindi, according to Lee, has ambitions to expand further.
Organizations pay a fee to publish a challenge on Zindi, and the business then crowd-sources machine learning solutions for them.
Technologies that can handle rich asset and transform it into meaningful information are becoming extremely vital for businesses as the volume of data produced by enterprises across Africa expands.
Artificial intelligence (AI), predictive analytics, and machine learning are examples of big data solutions that can help sort through large data sets and produce commercially viable insights, something that traditional technologies have been unable to do.
Large corporations are a potential target market for data science in Africa. Many people want to use data science to get more worth out of the information they’ve gathered. Many businesses, however, do not have the internal resources to make their business models more data-driven. They might help themselves by contacting firms such as Zindi.
The good news is that this data science is being pioneered by African scientists, who could contribute to meeting Africa’s data demands.
That isn’t to argue that relationships with international partners shouldn’t be pursued. These contribute complementing skills, avoiding the need to recreate the wheel, and allowing for larger investments and, as a result, a significant impact.
Zindi’s CEO claims that the company is an African-based platform with a worldwide reach. Its main focus thus far has been on breaking into the African market. Zindi aspires to be the continent’s go-to platform for all data scientists and aspiring data scientists.
It’s certainly plausible that if Zindi can get it correct at scale in Africa if the company can build a world where businesses, data sets, and talent connect seamlessly on the Zindi platform to generate fresh and amazing value, the company could recreate this model in other emerging market contexts where many of the benefits and challenges are comparable.
Don’t miss important articles during the week. Subscribe to techbuild.africa weekly digest for updates.