Brytlyt overfunded to £306,000 (153% of its target) in September 2016 with the help of 31 SyndicateRoom investors.
Brytlyt disrupts the software technology needed for processing and analytics to greatly enhance its market’s number one purchasing criteria: speed.
Lead investor Jos Evans, investing £75,000 into Brytlyt, was joined by five other business angels at the start of the round, bringing Brytlyt very close to its minimum target.
Brytlyt operates in a market worth $2.2bn in 2016, when it was growing at 30% per year.
For me, one of the most compelling investment themes for the next few decades is this area: enabling faster and better data analytics… Brytlyt’s technology is enabling huge transformations in the space.
Jos Evans, lead investor
Unlike established competitors, Brytlyt uses graphics processing units (GPUs) for data processing. The company believes the massive improvements in performance, and the equally fast fall in production costs, makes GPUs a formidable tool for data analytics.
Indeed, based on its own tests, the company’s offering has gone from being 3x faster to more than 8x faster than the current market leader and world record holder, Exasol.
What’s more, with the huge improvements afoot in the GPU industry, Brytlyt expects to be up to 24x faster than Exasol by Q1 2017.
Brytlyt raised funds to deliver a commercial product and begin securing orders.
Charlie M., investing £25,000 in this round, said:
‘A well-known British entrepreneur said that for a new technology to have a chance it needed to be better by a factor (of ten). As an investor exclusively in very early-stage businesses and startups, I need opportunities to have a vision of at least this …
‘Brytlyt’s vision is for at least a factor x3.
‘When I met Richard Heyns I was immediately impressed by his vision, his plans and his firsthand experience in an industry where Brytlyt’s technology will be incredibly valuable; and by his commitment. Brytlyt has made some incredible advances since my investment and I am glad to be investing again.’