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.
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.
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