In a world where long hours glued to spreadsheets and repetitive number-crunching define consulting, Ascentra Labs offers a much-needed solution. The London-based startup, founded by ex-McKinsey consultants, has raised $2 million to simplify consultants' workloads by integrating artificial intelligence (AI) into their processes. Naturally, this development piqued my interest as someone who’s spent years building startups with minimal resources and a keen eye for practical efficiency. Could Ascentra Labs help other entrepreneurs – particularly women – streamline operations? Let’s dig into what’s happening.
What Makes This Significant?
Consulting is a $250 billion giant, yet for years, it’s been surprisingly stuck in old habits. Many consultants, including myself during my earlier projects, have struggled with the inefficiencies of manual data analysis and sleepless nights buried in Excel spreadsheets. By automating repetitive tasks like commercial due diligence, survey analysis, and data preparation, Ascentra Labs promises a way out.
The $2 million funding round led by NAP, with contributions from heavyweights like Alan Chang (CEO of Fuse) and Fredrik Hjelm (CEO of Voi), isn’t just about money. It’s about credibility. These investors see the potential for Ascentra to redefine an industry that has long resisted modernization.
How They Are Changing the Game
Ascentra Labs focuses on creating a platform that performs heavy lifting for consultants. Tasks that could take
FAQ
1. What is Ascentra Labs, and what problem does it solve?
Ascentra Labs is a London-based startup founded by ex-McKinsey consultants. It uses artificial intelligence (AI) to automate repetitive consulting tasks like data preparation and survey analysis, aiming to reduce inefficiencies and "all-night Excel marathons." Read more about Ascentra Labs' mission
2. How much funding has Ascentra Labs raised?
Ascentra Labs recently raised $2 million in a seed funding round led by NAP, with contributions from notable investors like Alan Chang (Fuse CEO) and Fredrik Hjelm (Voi CEO). Learn more about their funding
3. How does Ascentra Labs help consultants?
The platform automates manual tasks like commercial due diligence and survey analysis, allowing consultants to focus on strategic thinking rather than mundane number-crunching. Discover how Ascentra Labs transforms consulting
4. Who are the founders of Ascentra Labs, and what is their background?
Ascentra Labs was founded by Paritosh Devbhandari, a former McKinsey consultant with experience in AI at QuantumBlack, and Oliver Thurston, an ML specialist. Meet the founders of Ascentra Labs
5. How will the newly raised funds be used?
The funds will be used to expand Ascentra Labs' AI tools, grow their engineering team, and scale operations, particularly in the U.S. market. Explore their business plans
6. How does Ascentra Labs change the consulting industry?
By integrating AI into consulting workflows, Ascentra Labs enables faster decision-making and eliminates the need for manual data manipulation, giving smaller firms a competitive edge. Learn about AI in consulting
7. Why is the consulting industry slow to adopt new technologies?
Despite being a $250 billion industry, consulting has relied heavily on manual methods like Excel spreadsheets for decades, delaying technological innovation. Understand the evolution of consulting
8. What sets Ascentra Labs apart from traditional consulting methods?
Unlike traditional methods, Ascentra Labs offers an AI-driven platform to automate routine tasks, making consulting processes faster and more efficient. Discover why Ascentra Labs stands out
9. Are there other industries adopting AI tools like Ascentra Labs?
Yes, industries like law and accounting have seen significant AI adoption recently, but consulting is only beginning to see this trend. Learn how AI is transforming industries
10. Will AI tools like Ascentra Labs replace consultants?
No, AI tools aim to automate repetitive tasks, allowing consultants to focus on critical thinking and interpretation rather than replace them entirely. Read about AI's role in consulting
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.
