Bonza Received an Initial-phase Funding from East Ventures
Big data analytics services startup, Bonza, had receieved an initial funding. The funding came from East Ventures. The two founders of Bonza, Elsa Chandra and Philip Thomas, had previously worked at Traveloka together.
At Traveloka, Elsa manages investments, while Philip leads one of the Data Science teams that is tasked with implementing the big data model for product development and improvement.
Elsa and Philip see the benefits of big data models in business decision making at Traveloka. That is one reason why they founded Bonza, which is to work on opportunities to help other companies use big data effectively in decision making.
One of Bonza’s founders, Elsa Chandra, said that his party saw that there was still an opportunity for the business of providing data analysis solutions in Indonesia, especially in the process of translating and integrating big data into organizations and companies.
“We believe there is a significant gap between leading-edge research in the ML and AI fields and its implementation in the field. We see Bonza as a bridge to close the gap,” Elsa said in a written statement.
The company’s mission, Elsa said, is to help companies interpret the data they have from various sources, integrate the data, and use ML and AI solutions to help them make decisions at optimal scale.
The Company Uses a Mathematical Algorithm to Display RT Maps
Bonza uses mathematical algorithms to display RT maps in all provinces of Indonesia and Southeast Asia. The Effective Reproduction Number (Rt) model shows the rate of coronavirus infection in each province, moving at varied speeds and trends.
This parameter can be a reference for policymakers to measure the effectiveness of corona pandemic control, such as large-scale social restrictions (PSBB).
Rt is an epidemiological parameter used to measure the rate of growth of virus transmission. Rt> 1 indicates the average infected person (carrier) transmits the virus to more than one person.
And so on. Conversely, Rt <1 indicates the average carrier transmits less than one person, meaning that the number of people infected in the area will decrease over time until the transmission rate stops.
East Ventures Co-Founder and Managing Partner, Wilson Cuaca assesses that Indonesia needs data that can be a reference to the impact of government policy. Moreover, the government is rumored to be opening activities in several economic sectors in June.
“It is hoped that the dashboard built by Bonza can be additional information and as a comparison in an effort to curb the spread of Covid-19,” Wilson said.
Technology and Product Development
The plan, investment from East Ventures will be used to develop Bonza technology and products, and support the company’s business expansion.
Bonza built a product that can be used by everyone in the company, from data analysts who need products to simplify data processing to company leaders and frontlines who need data to take the right steps.
Wilson Cuaca, co-founder and managing partner at East Ventures, said that making decisions and calculating their impact is not easy and it is one of the big challenges in every industry sector.
“Through this investment, Bonza is expected to be able to build a platform that facilitates decision making and monitors the results of these decisions by presenting insights, which result from processing unstructured data,” Wilson said.
Improve Data Quality and Integration
Bonza offers integrated data management which is claimed to be able to optimize the management’s view of the data information that the company has.
In addition, Bonza also offers something that is not provided by most other data analysis companies. Bonza helps improve data quality and integrates data from various sources into a “single source of truth”.
This is one of the company’s efforts to ensure there is no anti-cardiographic information barrier and provides management with a complete perspective of all company data.