Tánaiste Simon Coveney has launched a new Dublin-based tech start-up that turns enterprise data into knowledge to improve business operations.
The new company, known as DataChemist, already has an international client base and is working with global leaders on a number of projects. These projects are aimed at extracting greater knowledge and insight from existing data sets.
Commenting on the launch, Minister Coveney said: “It is becoming more vital than ever to move Ireland up the research and business value chain. Dynamic new businesses like DataChemist, that bring genuine deep-tech innovation to the market, are helping position Ireland as a leading international hub of next-generation industrial innovation.
“With Brexit looming, an increasing number of data-focused businesses are choosing Ireland as their European base and it is vital that the economy produces technology innovators who can help them handle the big-data challenges they face.”
DataChemist is led by Kevin Feeney, who previously worked in Trinity College Dublin’s School of Computer Science. He led the international ALIGNED and Seshat research programmes, which applied artificial intelligence to imposing order on vast, complex data sets.
“We have more data than ever before at our fingertips, but turning this huge volume of data into actionable insights is as much of a challenge as ever,” said Feeney. “That’s the problem we solve at DataChemist. In a connected world, we identify the critical business relationships hidden in that data and help our customers to manage risk and identify new opportunities.”
DataChemist raised €1.2 million in an initial funding round led by Atlantic Bridge with support from Enterprise Ireland.
Picture Above (Left to Right): Joe Healy, Enterprise Ireland; Declan Weldon, Trinity College Dublin; Kevin Feeney, CEO DataChemist; Tánaiste Simon Coveney; Chris Horn, Atlantic Bridge Ventures; Leonard Hobbs, Trinity College Dublin