Munich-based PandasAI is a startup building a conversational AI Assistant for data analysis, raising over €1 million in pre-seed funding from Runa Capital. PandasAI enhances the widely-used Python data analysis library pandas by introducing a conversational aspect. Instead of complex queries, users can ask questions using natural language to generate graphs and extract powerful insights from public data sets or companies’ data lakes.
Gabriele Venturi, Founder of PandasAI mentioned: “PandasAI’s vision is to render data analysis accessible, enabling decision-makers to swiftly and effectively make data-driven decisions,” continuing by saying “We are building an AI assistant that won’t only use data to answer questions, but will also help users to clarify their original ask, when needed, to ask the right questions. Companies will be able to deploy it in their private environments and generate insights related to their specific organization.”
To date, several undisclosed Fortune 500 companies have approached PandasAI to commence development on pilot projects with them. The funding has been provided by Luxembourg-based Runa Capital, Episode1, which is based in London, and Vento, the Italian chapter of Exor Ventures.
Recent advancements in AI have democratized creative endeavours by providing tools that assist individuals in writing, coding, and even generating images, by drastically reducing barriers to entry. The same tech has already been applied to data analysis, but such tools primarily focused on turning natural language into Structured Query Language (SQL) prompts. As a result, they are unusable for companies using other kinds of data storage, including NoSQL databases, corporate CRMs, and even third-party APIs. PandasAI makes all of these sources accessible, even to those unfamiliar with SQL or professional data analysis tools.
PandasAI allows users to access well-known Large Language Models (LLM), like GPT-4, on top of enterprise data without the need to send the data to OpenAI or other generative AI platforms. PandasAI will use the proceeds of the round to aggressively ramp up its hiring and talent acquisition.
Maxime Corbani, a Senior Associate at Runa Capital based in Paris said: “Gabriele’s execution and the support of the PandasAI community have established it as the leading open-source solution for conversational data analysis,” finishing with “Data analysts still spend a lot of time gathering, cleaning, merging and analyzing internal data. PandasAI automates the entire pipeline and helps produce insights.”
PandasAI is exploring integration possibilities with other language models such as LLama 2, and is developing BambooLLM, a LLM focused on data analysis, as a complementary solution. PandasAI is an open-source project under the MIT license with more than 8.5K stars on GitHub. To get started with PandasAI, it just needs to be installed. Users can then begin to effortlessly integrate it into their Python code.
About PandasAI
PandasAI is an open-source data analysis solution designed to simplify and enhance data interaction. By combining Generative AI with Python’s pandas library, it allows users to query and analyze data using natural language, facilitating tasks such as graph generation and cross-dataframe correlations. The project operates under an MIT license. For more information, please visit https://docs.pandas-ai.com
About Runa Capital
Founded in 2010, Runa Capital is an international venture capital firm headquartered in Luxembourg that invests in complex enterprise software, deep tech (AI/ML, next-gen computing and open-source software) and fintech infrastructure.
Read the orginal article: https://www.eu-startups.com/2023/09/munich-based-pandasai-raises-over-e1-million-for-its-ai-powered-data-analysis-assistant/
