University of Oxford has participated in a funding round for Zegami, a big data spinout from the institution also backed by Oxford Sciences Innovation.
Zegami, a UK-based big data analytics software developer, has closed a A$3.9m ($3m) funding round backed by University of Oxford, the Financial Review reported yesterday.
Parkwalk Advisors also participated in the round, as did unnamed high net-worth individuals.
Founded in 2016, Zegami is based in part on research conducted at Oxford’s Computational Biology Research Group. The platform enables users to catalogue and search large sets of data, such as art pieces in a museum’s collection.
The money will enable Zegami to develop a cloud-based version of its offering, to boost market awareness of the product, including in new verticals such as sports analytics, and to launch a consumer product.
Zegami had originally targeted a $10m close for the round, but according to co-founder Samuel Conway the spinout reconsidered the amount as it was deemed too large for a young business.
In February 2016, university venturing fund Oxford Sciences Innovation…
