Companies to expedite data science projects raising more funds amidst COVID-19.    

The explosion of data, significantly generated by sensor-driven devices, is making data science a crucial business analytics solution. The field of data science draws a variety of scientific tools, processes, algorithms and knowledge to extract data from structured and unstructured datasets that help identify meaningful patterns in it. Currently, the domain is increasingly utilized in almost all organizations, thus increasing the demand of data scientists capable of deriving actionable insight from a cluster of data. This will eventually lead to data-driven decisions and increase profitability, improve operational efficiency, business performance and workflows.

Today, more and more organizations are looking to invest in data science thanks to its power of innovation, with data-driven tools and techniques. Here are the top data science funding that companies/startups have raised in August 2020.

Rocketship.vc

Amount Funded: US$100 million

Transaction Type: Fund-II

Lead Investor(s): Vulcan Capital, Adams Street Partners

Rocketship.vc, an early-stage venture capital firm that invests in companies using models built through data science, closed US$100 million for its second fund. The fund was backed by Vulcan Capital, US private markets investment manager Adams Street Partners, and the family office of Marc Andreessen, and Chris Dixon. Founded by a team of data scientists and entrepreneurs, Fund II will enable Rocketship.vc to continue investing globally across different sectors and company stages, and amplify the company's number of follow-on investments. According to the company, the first fund closed in 2015 was US$40 million in size.

Mode Analytics

Amount Funded: US$33 million

Transaction Type: Series D

Lead Investor(s): H.I.G. Growth Partners

Mode Analytics, which provides an online service for collaboratively analyzing data, raised US$33 million in Series D funding round led by HIG Growth Partners, with additional participation from Valor Equity Partners, Foundation Capital, REV Venture Partners and Switch Ventures. Reportedly, the company will use the funds to invest in its analytics platform, which combines analytics and business intelligence, data science and machine learning. Recently, Mode Analytics has started to introduce tools, including SQL and Python tutorials, for less technical users, especially those in product teams, so that they can structure queries that data scientists can subsequently execute faster and with more complete responses.

Data Sutram

Amount Funded: US$20 million

Transaction Type: Seed Round

Lead Investor(s): Indian Angel Network

Data Sutram, an AI-based Location Intelligence Enterprise with a Cloud-based B2B product that works on a Data as a Service business model to help businesses, secured US$20 million in a Seed funding round from Indian Angel Network (IAN) angels, Uday Sodhi, Mitesh Shah and Nitin Jain. Founded in 2018 by three Jadavpur University engineering graduates and operated by Extrapolate Advisors Pvt Ltd, the startup helps companies by pinpointing new locations for them to expand, improve the performance of existing assets both physical and digital, and micro-target the right audience for their products.

Pachyderm

Amount Funded: US$16 million

Transaction Type: Series B

Lead Investor(s): M12

Pachyderm, an enterprise-grade, open-source data science platform, closed US$16 million in Series B funding round from Microsoft's venture fund. This latest funding round comes as the company launches the general availability of Pachyderm Hub, a fully-managed service solution that has been operating in public beta since November, which is available today. According to Pachyderm, the fund will be used toward hiring which has become necessary as the coronavirus-spurred remote work shift has led to a major uptick in sales.

Narrative

Amount Funded: US$8.5 million

Transaction Type: Series A

Lead Investor(s): G20 Ventures

Narrative, which empowers participants in the data economy, received US$8.5 million in Series A funding round to launch a new product designed to further simplify the process of buying and selling data. The round was led by G20 Ventures with existing backers Glasswing Ventures, MathCapital, Revel Partners, Tuhaye Venture Partners, and XSeed Capital. According to the company, this round of funding supports the launch of a new category: Data Streaming, which effectively replaces the broken data broker industry model with a transformative solution.

Climax Foods

Amount Funded: US$7.5 million

Transaction Type: Seed Round

Lead Investor(s): At One Ventures, Manta Ray Ventures, S2G Ventures,

Climax Foods, a data science company, raised US$7.5 million in a Seed funding round to stimulate AI research into how plants can be converted into products. The round was led by At One Ventures, founded by GoogleX co-founder Tom Chi, along with Manta Ray Ventures, S2G Ventures, Valor Siren Ventures, Prelude Ventures, ARTIS Ventures, Index Ventures, Luminous Ventures, Canaccord Genuity Group, Carrot Capital and Global Founders Capital. Climax Foods aims to create a smart way to make food by converting plants, with less processing, into products with the same taste as animal-based products, at a price point accessible to everyone.