Singapore-based Nugit promises analysts 50-80% less time spent "extracting, cleaning and combining" data when using its artificial intelligence-enhanced reports The Singapore-based Nugit (a play on "nuggets," of data) announced on Thursday that it raised 5.2 million from Sequoia India, with the goal of doubling its staff and expanding its client base in the near future for a market that will be worth over 185 billion in 2017. This is their first public round of financing, though they raised an undisclosed seed round in March 2015. Nugit's core services center around its work in "natural language generation" (NLG), an artificial intelligence process first developed in the 1990s to automate weather forecasts. NLG works differently from other types of machine learning linguistics because, "NLG systems start with a set of ideas locked in data and turn them into into language that, in turn, communicates them." The goal of this interactive information access is to draw out trends and patterns for reports quickly and clearly, using preprogrammed conditional prompts to review large data sets. Marketing and advertising companies, for instance, want to collect data that can compare data on campaign spending, sales, and reach.

Singaporean Artificial intelligence data analytics startup Nugit Pte. Ltd. has raised 5.2 million in funding from Sequoia India. Founded in 2013, Nugit uses artificial intelligence, natural language generation, and visual design to help marketers generate more usable reports based on the big data generated by advertising activity. The company's platform provides analytics for digital marketers and C-suite professionals, turning data into decision-ready reports which flow straight back into the enterprise workflow. Artificial intelligence technology powers data cleaning, integration and harmonization of data sources in real time on Nugit's platform, while their Natural Language Generation technology adds on insights written in easy to understand language and "decision-ready" reports are then delivered via email or powerpoint. The reports themselves are said to be built around'smart stories' and beautiful visualizations that deliver better quality reporting in a shorter time frame.