Indus Insights Secures Series A Funding From Unilazer and Hive India.
India-based Big Data firm Indus Insights has recently secured an undisclosed amount in Series A round of funding from Ronnie Screwvala’s Unilazer Ventures and Hive India. The startup was launched and funded by the Patni sibling, Amit and Arihant Patini.
This funding shall be used to further expand upon the team and scale up sales and marketing efforts across the globe.
“Ronnie is one of India’s most successful first generation entrepreneurs, and we look forward to his and the Unilazer team’s involvement in taking Indus Insights to new heights. Similarly, Hive’s singular focus on Big Data and the leadership team’s experience in building scalable B2B businesses at Patni Computer Systems make this association extremely productive,” said Saurabh Sharma, Co-founder and CEO of Indus Insights.
Initially founded during 2000 by a husband and wife duo Saurabh Sharma and Neha Sharma, the firm utilizes analytics to attack pain-points in consumer finance, e-commerce, and related businesses. Its clients also belong to various verticles, financial services, e-commerce, retail and others.
Before this round, Indus Insight had secured over US$90,000 in financial funding from a consortium of angel investors which included Shivraj Mundy, President of Mass Affluent Credit Cards Division at JP Morgan Chase; Himanshu Nagpal, Director of Marketing Strategy and Analytics at Capital One; and serial entrepreneurs Bhawna Bhatia and Kashyap Deorah.
Till now, the amount of Big Data available to companies has increase exponentially. A joint study done by the NASSCOM and CRISIL Global Research & Analytics estimates that the Indian Big Data industry shall further grow from US$200 million during 2012 to US$1 billion in 2015 at a CAGR in excess of 83 percent. This presents a huge opportunity for firms operating in the Big Data space. Investor have also expressed their keen interest towards Big Data firms and setting up of Big Data startup funding such as Hive partners expresses the importance of data analytics to create a sustainable business.