AMPLYFI – a start-up that specialises in mining and interpreting data from the Deep Web using artificial intelligence – is to create forty new jobs in Cardiff following support from the Welsh Government.
A £400,000 zero per cent interest loan from the Welsh Government’s Repayable Fund for SMEs will enable AMPLYFI to take on more highly skilled staff to support and refine its business intelligence platform, DataVoyant.
The funding follows an August 2016 investment by SME investors Finance Wales Group to accelerate the growth of high-potential businesses in Wales.
AMPLYFI moved to Cardiff in December 2015 where it has been developing and piloting DataVoyant their flagship product. DataVoyant combines Surface and Deep Web data mining, artificial intelligence and data visualisation in a single user-friendly platform – an industry first.
A pilot programme, which included some of the world’s largest companies, was highly successful and delivered significant value to the participants. The programme demonstrated DataVoyant’s commercial viability across aerospace and defence, banking, energy, insurance, private equity, pharma and professional services sectors.
Following that success AMPLYFI now has a strong pipeline of customers. The start-up is currently refining DataVoyant with feedback that has been provided by early adaptors.
Economy Cabinet Secretary Ken Skates said: “AMPLYFI is a cutting-edge technology start-up that has already demonstrated world-class capability. I am delighted to have met with the team and hear of the company’s planned growth as well as the new high quality jobs it will be creating.
“Funding support will help AMPLYFI accelerate DataVoyant’s commercialisation and ramp up their sales and development teams. AMPLYFI’s growth and global outlook clearly demonstrates the opportunities on offer in Wales to fast-moving tech companies looking to base themselves here.”
Chris Ganje, co-founder and CEO of AMPLYFI, said “The Welsh Government’s £400,000 loan is a great opportunity for us. We will leverage this funding to on-board some of the brilliant software engineers and programmers we’ve already met. This is exactly the kind of support that will continue to foster local entrepreneurship, but also attract more technology companies to Wales.”
AMPLYFI also benefits from being part of business accelerator Entrepreneurial Spark powered by NatWest and backed by KPMG, Dell EMC and Pinsent Masons. The accelerator has provided AMPLYFI with additional networks and key introductions to support their growth and development.
AMPLYFI was recently highlighted as a leading artificial intelligence start-up in Europe, and was named as one of the “Digital Dozen” start-ups putting Wales on the digital innovation map.
CEO Chris Ganje was also named as one of 2016’s top 35 businesspeople under the age of 35 in Wales.