Data City Expands with £2m from Oxford Economics
Deal News | Mar 03, 2025 | Business Cloud
Leeds-based AI data firm, The Data City, has secured a £2 million investment from Oxford Economics, marking the largest investment since the firm was founded in 2017. This funding has nearly doubled the company's valuation to £19 million and has expanded its workforce by creating 10 senior roles. The growth capital will be used to enhance global data infrastructure, improve services for UK multinationals, and support a US joint venture. CEO Alex Craven highlighted that the investment reflects a period of substantial growth and aids in the company's global expansion plan. The firm, which added NatWest to its client roster and reported a 63% increase in turnover for FY 2023/24, continues to grow its platform to provide a real-time AI-driven industry understanding. Oxford Economics CEO Adrian Cooper praised The Data City for redefining industry understanding, aligning with modern economic data requirements.
Sectors
- Artificial Intelligence
- Data Services
- Investment
Geography
- United Kingdom – The Data City is based in Leeds, UK, and plans to expand its services to UK-based multinational clients.
- United States – The investment will also support the development of a market for a joint venture in the US.
Industry
- Artificial Intelligence – The Data City utilizes AI to develop a new global industrial classification system and enhance decision-making.
- Data Services – The firm's services revolve around real-time, AI-driven data, aligning with global industry standards.
- Investment – The article discusses a significant investment that affects The Data City's growth and valuation.
Financials
- £2 million – The investment amount provided by Oxford Economics.
- £19 million – The company’s new valuation following the investment.
- 63% – The increase in turnover for The Data City in FY 2023/24 to £1.25 million.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| The Data City | Target | Company | An AI data business based in Leeds, aimed at creating a global industrial classification system. |
| Oxford Economics | Investor | Company | An economic advisory firm investing £2 million into The Data City to support its global expansion. |
| Alex Craven | CEO | People | CEO of The Data City, who commented on the firm's growth and strategic direction. |
| Adrian Cooper | CEO | People | CEO of Oxford Economics, expressing support for The Data City's industry redefining efforts. |
| NatWest, Lloyds Banking Group, Allianz, The Royal Academy of Engineering | Client | Company | Existing clients of The Data City benefiting from its data services. |