QuantCube Technology raises Series B funding to support growth in economic nowcasting, harnessing AI and big data analytics
Press Release
QuantCube secures Series B funding
Funding will enable QuantCube’s global expansion to meet growing demand from financial institutions and investment firms for real-time economic intelligence
Paris – 20 December, 2022 – Real-time economic intelligence provider QuantCube Technology today announced that it has secured funding led by Strategic Development Fund (SDF), the investment arm of UAE’s Tawazun Council, together with previous backers Moody’s and Five Capital, and other private investors.
Using AI to analyse billions of alternative data points in real time, QuantCube is the global leader in macroeconomic intelligence nowcasting and in pinpointing macro regime change. The new funding will help the firm deliver on its vision to become the standard point of reference for real-time macroeconomic, corporate and environmental intelligence.
Headquartered in Paris, QuantCube will build on its existing presence by establishing new offices in Abu Dhabi focused on research and development, as well as offices in Tokyo and New York dedicated to sales and operations.
Ghizlaine Amrani, COO and Co-Founder, QuantCube Technology, said: “Increased focus on geopolitical and macroeconomic issues means the ability to derive insights from real-time data across markets and at scale has never been more essential. With our newly secured funding, we look forward to expanding our offerings into new regions and delivering market-leading economic intelligence to new customers. We would like to thank our existing stakeholders for their continued support as well as our new partners for this truly transformational investment.”
Abdulla Naser Al Jaabari, Managing Director and CEO of SDF said: “SDF looks at investing in companies within specific sectors that have technological solutions that provide an edge to their customers. When it comes to macroeconomic nowcasting, QuantCube Technology’s capabilities are unmatched and users of QuantCube data benefit from highly accurate real-time insights. As one of QuantCube’s latest strategic investors, SDF will be working closely to support the ongoing growth of QuantCube with additional applications building on QuantCube’s capability and platform in new industries and use cases throughout the UAE and globally.”
QuantCube’s Macroeconomic Intelligence Platform delivers macro nowcasting indices on variables including economic growth, inflation, employment and international trade for the G20 and emerging economies—providing critical insight on market turning points across asset classes from equities to fixed income, commodities and foreign exchange.
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About QuantCube Technology
Established in 2013, QuantCube Technology uses artificial intelligence and big data analytics to deliver real-time macro-economic insights. The firm operates one of the largest alternative data lakes in the world, processing more than 14 billion data end points. Sources encompass news, social media, satellite data, professional networks and consumer reviews, as well as international trade, shipping, real-estate, hospitality and telecoms data.
QuantCube’s macro nowcast indices, on variables including economic growth, inflation, employment and international trade, correlate highly with official data and significantly beat the consensus. Financial institutions using QuantCube data benefit from real-time insight, often ahead of official numbers, which they can use to inform their investment strategies.
Learn more at: www.quant-cube.com
Media contact:
Sarah Mason, Metia
+44 (0)20 3100 3613
sarah@metia.com
QuantCube Technology contact:
Ghizlaine Amrani, COO and Co-Founder
ghizlaine.amrani@quant-cube.com
About Strategic Development Fund
Strategic Development Fund (SDF) is focused on financial return and economic impact within the UAE, through equity investment in local and international partnerships. SDF invests in emerging and frontier technology companies and plays a vital role in supporting the private sector to meet the strategic needs of the UAE, encouraging creativity and innovation amongst local companies and enabling them to participate in building a diversified national economy.
Learn more at: www.sdf.ae
