Data analytics startup Bonza bags funding from East Ventures

DATA analytics startup Bonza on Tuesday said it has received seed funding from early-stage venture capital firm East Ventures.

The Jakarta-based startup declined to reveal the amount raised, but said that it will use the funding to further develop its technology and product, and expand its business operations. 

Bonza is building a product that can simplify data preparation for data analysts, or analyse data for decisive actions by C-suite and frontline workers.

The startup, which deals with Big Data, also helps their customers to improve data quality and integrate disparate data sources into a single source, it said. This helps to break data silos and ensure that different departments and management get a full view of their company's data.

Elsa Chandra, co-founder of Bonza, said: "We believe that there is a gap between leading machine learning and artificial intelligence (AI) research, and its implementation in the real world... Our mission is to support organisations to make sense of all their data from various sources - be it structured or unstructured - integrate these into a single source of truth and use the data to build and deploy AI and machine learning solutions for better decisions at scale." 

Said Willson Cuaca, co-founder and managing partner of East Ventures: "Making and calculating impact of decisions based on unstructured and random data from different sources of information is taxing. This is a challenge faced by every industry. With this investment, Bonza is able to build a platform that facilitates decision making and monitors the results of those decisions, by presenting insight generated from unstructured data."

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Currently, Bonza says it is also helping the Indonesian government figure out a way to measure the rate of spread of Covid-19 in Indonesian provinces.

"Bonza has also moved quickly, using its expertise to support the government's efforts to curb the spread of Covid-19 by adopting an algorithm to estimate the Effective Reproduction Number (Rt) in every province throughout Indonesia and other countries in the region.

"Indonesia needs metrics that can be used to monitor the impact of the reopening to the rate of infections. The dashboard built by Bonza is a valuable addition and alternative to the available information," said Mr Cuaca.