Latest news with #ProsusVentures
Yahoo
7 days ago
- Business
- Yahoo
Deccan AI Announces Funding From Prosus Ventures to Accelerate Growth
PALO ALTO, Calif., May 28, 2025--(BUSINESS WIRE)--Deccan AI, a fast growing startup that specializes in pristine data for AI model training and evaluations, has raised funding from Prosus Ventures. The investment will accelerate product development, expand the team, and fuel market expansion. High-quality data is the lifeblood of AI models, yet there is a constant challenge in generating the vast datasets required to train and evaluate sophisticated models. Deccan AI was founded to solve this critical need. The company supports the frontier model work of leading AI companies such as Google and Snowflake. Deccan has a specialized platform, an elite workforce of over 500,000 freelancers (e.g. IIT graduates and PhDs), and deep expertise in cutting-edge GenAI use cases such as agentic evaluations, coding tasks, and multi-modal data. "This investment from Prosus Ventures is a powerful validation of our vision to provide the essential fuel for the AI revolution," said Rukesh Reddy, Founder of Deccan AI. "We see a significant opportunity to empower top AI labs with the high-quality human data they need to build truly intelligent systems. This funding will enable us to expand our capabilities, invest further in ML research, and strengthen our presence, particularly in the Bay Area." "We are excited to support Deccan AI as it plays a critical role in powering the next generation of AI models," said Apoorve Goyal, Managing Director, Prosus. Deccan AI's rigorous quality control process, high-caliber team, and well-researched workflows ensure consistently high-quality data. This is reflected in recent positive customer feedback. Snowflake recently utilized Deccan AI for validation and testing. "For evaluating powerful RAG and Agentic systems, you need high quality data," said Rajhans Samdani, Principal Software Engineer at Snowflake. "Deccan AI provided us with exactly that. The team also worked very closely with us as we improved our benchmarking process and they were able to turn on a dime." About Prosus Ventures Prosus Ventures is the venture investing arm of Prosus, one of the world's largest technology investors. Prosus Ventures backs innovative companies across Europe, the Americas, and Asia, focusing on sectors such as SaaS, e-commerce, fintech, and B2B. About Deccan AI Deccan AI, headquartered in the Bay Area, delivers pristine model training and eval data to top AI labs. Its elite network of freelancers enables expert human-in-the-loop support for complex AI workflows such as agentic evaluations, multi-modal data labeling, and code-based tasks. View source version on Contacts Poonam
Yahoo
7 days ago
- Business
- Yahoo
Deccan AI Announces Funding From Prosus Ventures to Accelerate Growth
PALO ALTO, Calif., May 28, 2025--(BUSINESS WIRE)--Deccan AI, a fast growing startup that specializes in pristine data for AI model training and evaluations, has raised funding from Prosus Ventures. The investment will accelerate product development, expand the team, and fuel market expansion. High-quality data is the lifeblood of AI models, yet there is a constant challenge in generating the vast datasets required to train and evaluate sophisticated models. Deccan AI was founded to solve this critical need. The company supports the frontier model work of leading AI companies such as Google and Snowflake. Deccan has a specialized platform, an elite workforce of over 500,000 freelancers (e.g. IIT graduates and PhDs), and deep expertise in cutting-edge GenAI use cases such as agentic evaluations, coding tasks, and multi-modal data. "This investment from Prosus Ventures is a powerful validation of our vision to provide the essential fuel for the AI revolution," said Rukesh Reddy, Founder of Deccan AI. "We see a significant opportunity to empower top AI labs with the high-quality human data they need to build truly intelligent systems. This funding will enable us to expand our capabilities, invest further in ML research, and strengthen our presence, particularly in the Bay Area." "We are excited to support Deccan AI as it plays a critical role in powering the next generation of AI models," said Apoorve Goyal, Managing Director, Prosus. Deccan AI's rigorous quality control process, high-caliber team, and well-researched workflows ensure consistently high-quality data. This is reflected in recent positive customer feedback. Snowflake recently utilized Deccan AI for validation and testing. "For evaluating powerful RAG and Agentic systems, you need high quality data," said Rajhans Samdani, Principal Software Engineer at Snowflake. "Deccan AI provided us with exactly that. The team also worked very closely with us as we improved our benchmarking process and they were able to turn on a dime." About Prosus Ventures Prosus Ventures is the venture investing arm of Prosus, one of the world's largest technology investors. Prosus Ventures backs innovative companies across Europe, the Americas, and Asia, focusing on sectors such as SaaS, e-commerce, fintech, and B2B. About Deccan AI Deccan AI, headquartered in the Bay Area, delivers pristine model training and eval data to top AI labs. Its elite network of freelancers enables expert human-in-the-loop support for complex AI workflows such as agentic evaluations, multi-modal data labeling, and code-based tasks. View source version on Contacts Poonam Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
7 days ago
- Business
- Business Wire
Deccan AI Announces Funding From Prosus Ventures to Accelerate Growth
PALO ALTO, Calif.--(BUSINESS WIRE)--Deccan AI, a fast growing startup that specializes in pristine data for AI model training and evaluations, has raised funding from Prosus Ventures. The investment will accelerate product development, expand the team, and fuel market expansion. High-quality data is the lifeblood of AI models, yet there is a constant challenge in generating the vast datasets required to train and evaluate sophisticated models. Deccan AI was founded to solve this critical need. The company supports the frontier model work of leading AI companies such as Google and Snowflake. Deccan has a specialized platform, an elite workforce of over 500,000 freelancers (e.g. IIT graduates and PhDs), and deep expertise in cutting-edge GenAI use cases such as agentic evaluations, coding tasks, and multi-modal data. "This investment from Prosus Ventures is a powerful validation of our vision to provide the essential fuel for the AI revolution," said Rukesh Reddy, Founder of Deccan AI. "We see a significant opportunity to empower top AI labs with the high-quality human data they need to build truly intelligent systems. This funding will enable us to expand our capabilities, invest further in ML research, and strengthen our presence, particularly in the Bay Area." 'We are excited to support Deccan AI as it plays a critical role in powering the next generation of AI models,' said Apoorve Goyal, Managing Director, Prosus. Deccan AI's rigorous quality control process, high-caliber team, and well-researched workflows ensure consistently high-quality data. This is reflected in recent positive customer feedback. Snowflake recently utilized Deccan AI for validation and testing. 'For evaluating powerful RAG and Agentic systems, you need high quality data," said Rajhans Samdani, Principal Software Engineer at Snowflake. 'Deccan AI provided us with exactly that. The team also worked very closely with us as we improved our benchmarking process and they were able to turn on a dime.' About Prosus Ventures Prosus Ventures is the venture investing arm of Prosus, one of the world's largest technology investors. Prosus Ventures backs innovative companies across Europe, the Americas, and Asia, focusing on sectors such as SaaS, e-commerce, fintech, and B2B. About Deccan AI Deccan AI, headquartered in the Bay Area, delivers pristine model training and eval data to top AI labs. Its elite network of freelancers enables expert human-in-the-loop support for complex AI workflows such as agentic evaluations, multi-modal data labeling, and code-based tasks.
Zawya
20-05-2025
- Business
- Zawya
Empowering millions: $15.7mln raise sets the stage for accelerated GCC growth
Dubai, UAE — Thndr, the leading retail investment platform in the MENA region, announced during its debut keynote event, its second major investment round, raising an additional $15.7 million, bringing its total current capital to $37.76 million. The round was led by Prosus Ventures, with participation from The Rabacap Partnership, BECO Capital, JIMCO Capital, Endeavor Catalyst, Y Combinator, and a prominent U.S. university endowment, among other new global investors. These funds will now be strategically deployed to support Thndr's regional expansion — with both the UAE and Saudi Arabia as key priority markets. Thndr is currently focused on deepening its operational presence in the UAE, while simultaneously laying the groundwork for entry into Saudi Arabia. The goal is to replicate its success in Egypt across the broader region by building locally relevant, trusted investment platforms. Since inception, Thndr has been on a mission to democratize investing and improve financial literacy across MENA. The platform provides seamless access to a range of investment instruments including local and U.S. stocks, gold, mutual funds, and savings products, helping millions take control of their financial futures. In 2024, Thndr solidified its position as Egypt's leading retail brokerage on the Egyptian Stock Exchange (EGX), achieving a total traded value of $3.5BN, accounting for 11% of the retail traded value. The platform served as the entry point for 82% of all newly registered investors on the EGX, adding 190.1K new investors to the market. In gold mutual funds, Thndr now accounts for 47% of all assets under management. Notably, female participation on the platform increased from 3% to 12%, and 40% of users now come from outside of major cities—marking a clear success in reaching underserved populations. Speaking about the investment, Sandeep Bakshi, Head of Investments, Europe at Prosus, said, 'Hammouda and the Thndr team have demonstrated incredible execution over the past few years, and we are thrilled to be doubling down on our investment in the company. Thndr is transforming access to investing across MENA by empowering first-time investors with the tools and confidence to participate in the financial system—building a product that resonates deeply with a new generation and is becoming increasingly important. Their rapid growth, particularly among young and underserved populations, underscores both the strength of their leadership and the company's broader mission. As early backers, we're thrilled to support Thndr as they scale into Saudi Arabia and beyond.' 'Our mission is to provide access to local, regional, and international investment products through one wallet and one account—making investing as seamless and inclusive as possible,' said Ahmad Hammouda, CEO of Thndr. 'With only 2% of individuals in MENA investing, we believe the time is now to build the region's leading investment-first money app—a platform that helps people build wealth, make confident decisions, and live life on their own terms.' Hisham Jazzar, Saudi General Manager shared 'Returning from Silicon Valley to Riyadh, I was driven by a desire to channel my experience into value-driven solutions for my country. Saudi Arabia's financial literacy gap is a significant challenge, and traditional approaches have fallen short. Thndr's innovative, tech-driven model offers a scalable solution that aligns with the scale of the national problem. I'm thrilled to join a team committed to breaking down barriers to investing and empowering Saudis to actively participate in our nation's economic transformation.' Thndr has already built a strong regulatory foundation, holding a license from the Financial Regulatory Authority (FRA) in Egypt and a Category 3A license with retail endorsement from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA). *Thndr was advised by VCL as its legal counsel throughout the fundraising process. About Thndr Thndr is one of MENA's first fully digital investment platforms, simplifying and democratizing investing for over 4 million users. The platform empowers investors through access to Egyptian and U.S. stocks, gold, mutual funds, and savings products. Founded in 2020 by Ahmad Hammouda and Seif Amr, Thndr secured the first brokerage license issued in Egypt since 2008 and currently holds regulatory licenses from both the FRA (Egypt) and ADGM (UAE). To date, Thndr has raised a total of $37.76 million from global venture capital firms, including Tiger Global, Rabacap, Prosus Ventures, BECO Capital, and Y Combinator. For more information, visit The Thndr app is available on the Apple App Store and Google Play. For media inquiries, please contact: [Salma Shahin] | [salma@
Fintech News ME
20-05-2025
- Business
- Fintech News ME
Egypt's Thndr Raises $15.7M to Expand Investment Platform in MENA
Thndr, a Cairo-based digital investment platform, has raised US$15.7 million in new funding to support its regional expansion across the Middle East and North Africa. The round was led by Prosus Ventures, with participation from Y Combinator, BECO Capital, Endeavor Catalyst, JIMCO, Raba, and Onsi Sawiris, as well as a major US university endowment. This brings Thndr's total funding to US$37.76 million since its founding in 2020. Founded by Ahmad Hammouda and Seif Amr, Thndr allows users in the region to invest in local and international stocks, mutual funds, bonds, and other financial products through a mobile-based platform designed to lower barriers to entry. With this new capital, the company plans to expand its presence in the United Arab Emirates and enter the Saudi Arabian market. Thndr aims to introduce locally relevant investment products to attract first-time and underserved investors. In Egypt, the platform has grown to represent 11% of retail trading volume on the Egyptian Stock Exchange (EGX) in 2024, with a traded value of US$3.5 billion. It was the starting point for 82% of new retail investors on the EGX last year and onboarded more than 190,000 individuals. Thndr also manages 47% of assets in local gold mutual funds. Female participation on the platform increased from 3% to 12%, with greater uptake among users outside major cities. Thndr CEO, Ahmad Hammouda said, 'Our mission is to provide access to local, regional, and international investment products through one wallet and one account, making investing as seamless and inclusive as possible. With only 2 percent of individuals in MENA investing, we believe the time is now to build the region's leading investment-first money app, a platform that helps people build wealth, make confident decisions, and live life on their own terms.'
