Estonian startup Alvin secures €6.1M in a seed round
Tallinn-based data lineage platform Alvin has secured €6.1 million in a seed funding. Project A Ventures led the round also joined by Icebreaker.vc, Nomad Capital, and angel investors, Silicon Canals reports.
- Founded in 2018 by Dan Mashiter and Martin Sahlén, Alvin builds a plug-and-play SaaS platform. It offers data analysts a toolkit to help them improve the quality of their data at lower costs. The platform automatically maps the entire data architecture and how data is connected, transformed, and consumed.
- By doing this, the platform enables teams to detect and trace pipeline errors/bugs, as well as reduce data downtime. The company claims it organically grew its beta waitlist to 400+ companies. Already, it has secured its first commercial contracts, including a fintech company Quanto.
“Alvin is going to make the lives of everyone handling big data much easier. Martin and Dan have a proven track record in data-driven companies, and they have built a great system to help companies trace, analyze, and govern data more effectively,”Uwe Horstmann, General Partner Project A, comments
- Project A Ventures led the seed round. It is a European venture capital company managing nearly $600 million in assets. Icebreaker.vc and Nomad Capital, and noted angel investors Chris Shagen, Nick Handel, as well as Ragnar Sass, also participated in the funding.
- Alvin will use the capital to expand the engineering team to execute its go-to-market strategy. The company will also launch its platform after a successful beta phase.