Singapore-based Big Data firm Latize has secured its first NSW government customer, the Division of Resources & Energy of the Department of Industry. Latize which launched its first overseas office in Sydney in June secured $1.4 million in August.
DRE has been seeking a solution to address the data mining function for use in mine safety, environmental, licensing, royalties and reporting compliance analysis and other miscellaneous intelligence analysis since August. Having had a presence in Australia for just a few months at that time, Latize believed they could provide a compelling solution to those requirements given their record to date with Singapore’s government agencies. Vikram Mengi, co-founder, and CEO of Latize said,
Latize is proud to announce our landmark win in New South Wales, the Division of Resources & Energy of the Department of Industry. We look forward to working together to implement our solutions and support the division’s efforts in harnessing data to benefit their operations.
DRE has a vision for NSW to be a place where the skills of its people, management of its natural resources and the quality of its government services make it a globally attractive location to live, learn, work, invest and to produce goods and services. The safe and sustainable development of NSW mineral and energy resources for the benefit of all NSW citizens lies at the heart of DRE’s purpose. The NSW government has increasingly been adopting various technologies to improve industries such as transportation, as well as internal processes and the public service experience for Australian citizens.
The deal was made possible via one of Latize’s local partners, Small Multiples, which has an exemplary record of customer success in the area of data visualization. Small Multiples and Latize will work together to implement the Ulysses solution to address initial requirements and look to setting the standard as a platform for further innovative data management projects within the Division. The initial work will focus on mine safety and at later stages will involve integration with several other systems within DRE.
Latize’s innovative software approach to big data management, christened Ulysses, utilizes semantic processing and linked data to provide insights that would otherwise be unseen in organizations data. The software has been accredited by the InfoComm Media Development Authority in Singapore.
Latize has secured a total funding to around US$3 million till date and is venture backed by Singapore-based investment firms including ACP, SPRING Seeds Capital and Tembusu ICT 1 Fund. The startup is also expecting to close between S$5 million to S$7 million in Series A funding in the first half of 2017.