DataSpace Europe Oy: Company Profile

Background

Overview

Founded in 2022, DataSpace Europe Oy is a Finnish company specializing in data intermediation services across Europe. The company aims to drive a European revolution in the fair data economy, advocating for a more humane, secure, and equitable future. By facilitating the exchange of data and data-driven services, DataSpace Europe connects providers and consumers across various industries, supporting organizations in leveraging data to drive business development.

Mission and Vision

Mission: To build a European fair data revolution for a more humane, safer, and more equal tomorrow.

Vision: To be Europe's leading data intermediary, enabling the creation and development of data ecosystems in accordance with the principles of a fair data economy.

Industry Significance

DataSpace Europe is a pioneer in the field of data intermediation, offering solutions that adhere to the European Union's data strategy. The company is a member of the International Data Spaces Association (IDSA), GAIA-X, and MyData Global, reflecting its commitment to promoting a fairer data economy.

Key Strategic Focus

Core Objectives

Facilitate secure and compliant data exchange across Europe.

Support organizations in developing data-driven business models.

Promote a fair and equitable data economy.

Areas of Specialization

Data intermediation services.

Development of data ecosystems.

Data-driven business development.

Key Technologies Utilized

Tritom®: A proprietary data intermediation service designed to meet EU compliance requirements, enabling secure and efficient data exchange.

Primary Markets Targeted

Agriculture.

Food industry.

Retail.

Public sector organizations.

Financials and Funding

Funding History

Total Funds Raised: €3.3 million.

Recent Funding Round: On June 1, 2022, DataSpace Europe closed a debt financing round.

Notable Investors: Finnish Climate Fund.

Utilization of Capital

The funds are intended to accelerate the digitalization of the food chain, enhance data intermediation services, and support the development of data ecosystems in line with the European Union's data strategy.

Pipeline Development

Key Pipeline Candidates

Tritom®: A data intermediation service facilitating secure data exchange among stakeholders in the agriculture and food sectors.

Stages of Development

Tritom®: Launched in May 2023, currently operational and expanding its user base.

Target Conditions

Agricultural data sharing.

Food industry data exchange.

Retail data integration.

Anticipated Milestones

Expansion of Tritom® user base across Europe.

Integration with additional data ecosystems.

Technological Platform and Innovation

Proprietary Technologies

Tritom®: A data intermediation service that does not store or use the data being exchanged, ensuring data remains outside the system and functions solely as a secure intermediary channel.

Significant Scientific Methods

Utilization of data intermediation services to facilitate secure and compliant data exchange.

Leadership Team

Executive Profiles

Jaana Sinipuro: Chief Executive Officer (CEO). With over 25 years of experience in the data economy, Jaana has a background in both technology and business, focusing on developing data-driven capabilities for primary production and crafting practical solutions for data ecosystems.

Jyrki Hyyrönmäki: Chief Product Officer (CPO). Jyrki is responsible for overseeing the development and management of DataSpace Europe's product offerings, ensuring they meet the needs of data providers and consumers.

Juhani Luoma-Kyyny: Senior Advisor. Juhani provides strategic guidance and expertise in data intermediation services, supporting the company's mission to promote a fair data economy.

Market Insights and Competitor Profile

The data intermediation sector is experiencing significant growth, driven by the increasing need for secure and compliant data exchange across industries. The European Union's emphasis on data sovereignty and the development of data spaces further contribute to the expansion of this market.

Competitors

Advaneo GmbH: A German company specializing in data spaces and data intermediation services, focusing on sustainable data exchange solutions.

IOXIO: A Finnish technology company providing services that enable organizations to connect their information systems cost-effectively, facilitating data sharing within and across domains.

Strategic Collaborations and Partnerships

Green Deal Dataspace e.V.: DataSpace Europe is a founding member of this association, which aims to drive the development and advancement of the Green Deal Dataspace as a European data space for sustainability.

Agdatahub and ILVO: In June 2024, DataSpace Europe signed an agreement with Agdatahub and ILVO to network national agricultural data exchange platforms within the EU, aiming to develop a European agricultural data space.

Operational Insights

DataSpace Europe's Tritom® service differentiates itself by not storing or using the data being exchanged, ensuring data remains outside the system and functions solely as a secure intermediary channel.

Strategic Opportunities and Future Directions

Expansion of Data Ecosystems: DataSpace Europe aims to expand its data intermediation services across Europe, integrating with additional data ecosystems to enhance data sharing and collaboration.

Sustainability Initiatives: Through partnerships like the Green Deal Dataspace e.V., the company is focusing on developing data spaces that support sustainability and the European Green Deal.