Two ex-Googlers established a data-driven VC fund: Fly Ventures

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The Berlin-based venture capital fund Fly Ventures raised 53 million euros. The venture capital company will invest in early-stage enterprises that do deep technology and automation works in Europe with this money.

Bloomsbury AI and Scape Technologies, invested by Fly Ventures, founded by two former Google employees in 2017, were sold to Facebook. The fund invests between 500.000 euros and 1.5 million euros.

Fly Ventures says they are following a data-driven approach when looking for companies to invest. Fly Ventures uses various data sources while searching for companies, has examined more than 29.000 companies because of browser plugins and other software.

The investment company makes detailed filtering and searches thanks to the software they use, says that they can search for people who have graduated from a good university, for example, from a deep technology. Similarly, they report that they have found the startups established by successful startup graduates.

Source
https://www.businessinsider.com/fly-ventures-raises-60-million-2020-6

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