Oxford Economics has announced a significant investment of £2 million into The Data City, an innovative platform based in the UK that offers real-time classification of companies. This investment comes at a post-money valuation of £19 million and aims to bolster The Data City’s international expansion while enhancing its AI-driven technology. Furthermore, it will assist in exploring new market opportunities, specifically through a forthcoming joint venture in the US.
Adrian Cooper, CEO of Oxford Economics, highlighted the necessity for contemporary business intelligence, mentioning, “Our clients need data that reflects the economy as it is today—not how it was classified in 2007.” He expressed excitement about The Data City’s role in revolutionising industry comprehension among businesses, investors, and policymakers during its growth phase.
Alex Craven, CEO of The Data City, emphasised the partnership’s transformative potential, stating, “This investment is a game-changer.” He underscored their dedication to delivering real-time insights into corporate activities, moving away from outdated classification codes. As the collaboration unfolds, it positions The Data City to extend its influence in North America and establish itself as a premier source for industry classification.
About Oxford Economics: The leading independent economic advisory firm, providing timely, data-driven insights to facilitate intelligent decision-making worldwide.
About The Data City: Based in Leeds, this platform focuses on mapping the UK’s emerging economy, offering real-time data on dynamic sectors to researchers, policymakers, and investors alike.
Oxford Economics invests £2 million in The Data City, a UK-based real-time company classification platform designed to enhance AI-powered business intelligence. The investment aims to accelerate international expansion and support a US joint venture. Leaders from both organisations emphasise the importance of current data and innovative insights for the global economy.
In conclusion, Oxford Economics’ £2 million investment in The Data City marks a pivotal step towards enhancing AI-powered business intelligence and supporting international expansion. This collaboration sets the stage for innovative advancements in economic data, catering to the evolving needs of contemporary businesses. The resulting integration promises to reshape how industries are understood and analysed, paving the way for a data-driven future.
Original Source: www.oxfordeconomics.com
