Artemis closes $2 million CAD to improve data quality for analytics and AI

Vancouver-based technology startup Artemis has secured $2 million CAD ($1.5 million USD) in pre-seed funding to automate data preparation with artificial intelligence (AI) agents.

The all-equity round closed in March and was led by Vancouver’s Raven Indigenous Capital Partners with support from San Francisco-based Telegraph Hill Capital, Toronto’s Ripple Ventures, and undisclosed angel investors. Artemis aims to use this capital to accelerate its product development and delivery.

Founded in 2022 by CEO Josh Gray and CTO William Shi, Artemis aims to automate data cleaning for analytics and AI. The Indigenous-led startup is developing software that enables data teams to deploy AI agents that automate data cleanup, helping data engineers gather insights and build AI products more quickly.

“With the help of AI agents, Artemis helps our users ship more reliable and trusted data—faster.”

Josh Gray, Artemis

“Organizations need access to clean and reliable data to use AI effectively,” Gray, who is Indigenous, told BetaKit. “Today, most data teams do not have the toolset to scale their abilities and knowledge to keep up with the demand for clean data. Artemis wants to change that by helping data engineers clean and transform data. With the help of AI agents, Artemis helps our users ship more reliable and trusted data—faster.”

Artemis aims to provide easier access to data cleaning for technical and non-technical users alike. According to the startup, customers can easily manipulate its AI agents on a drag-and-drop canvas and deploy them in their data warehouse. Artemis claims its platform can help organizations accelerate the data-cleaning process.

In a statement, Raven general partner Althea Wishloff described Artemis as a “game-changing data technology company,” noting that the firm was impressed by the startup’s tech.

Artemis’ pre-seed financing brings its total funding to approximately $2.4 million CAD, from a group that also includes Montréal-based FounderFuel. Gray declined to disclose the startup’s valuation.

To start, Artemis has set its sights on B2B e-commerce and healthcare organizations through its work with companies like Kelowna, BC-based Matter and Montréal-based healthtech scaleup AlayaCare, respectively. 

RELATED: Raven Indigenous Capital Partners tops initial target for second fund with $100-million final close

Gray said that the majority of this pre-seed funding will go towards expanding Artemis’ engineering team and building out its user community.

“While there is a narrative that data teams will become obsolete thanks to AI, we firmly believe they are the key to an organization’s success in this new world,” said Gray. “We are building a community where data engineers can collaborate, share knowledge, and integrate new AI tools into their work. We see these tools as a way to accelerate their work, not a replacement.”

Artemis’ platform is still in beta with over 30 organizations currently using it. The startup is gearing up to launch it publicly in late 2024.

UPDATE (05/27/24): Based on new information Artemis shared with BetaKit, this story has been updated to clarify that while FounderFuel has invested in Artemis, it did not participate in the startup’s pre-seed round.

Feature image courtesy Artemis.