Indus Insights raises a Series A round from Unilazer and Hive India
Indus Insights is a Gurgaon based Big Data firm that has announced a series A round (amount is undisclosed) from Ronnie Screwvala’s Unilazer Ventures and Patni scion Arihant’s investment arm Hive India. Dexter Capital acted as an exclusive advisor to Indus Insights for this transaction. Prior to this, Indus Insights had raised over $90,000 in angel funding from a consortium of angel investors, including Shivraj Mundy, president of mass affluent credit cards division at JPMorgan Chase; Himanshu Nagpal, director of marketing strategy & analytics at Capital One; Bhawna Bhatia; and Kashyap Deorah, a serial entrepreneur (source). The fresh infusion of funds will be used to hire and scale operations globally.
Indus Insights was founded in 2009 husband-wife duo Saurabh Sharma and Neha M Sharma who are both graduates of IIT-Bombay with solid work experience with companies like Bain and Co, Citibank, etc. in the US. The founders had experienced firsthand the significant value that analytics could have on businesses, as well as the obstacles that prevented most companies from adopting data-driven strategies. This is what led to start up and over the years, they have developed a competency in areas such as consumer finance, retail, e-commerce, amongst others.
This is the first investment in Big Data for Unilazer while Hive India is focused only on Big Data and has made multiple investments in the space. Talking about the funding, Saurabh says,
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.
The Indus Insights team is currently 25 people strong and they’ll be aggressively hiring now. The Big Data technology and services space is growing very fast and is expected to grow at a rate of 27% compound annual rate to $32.4 billion through 2017. There are many Indian companies that have made a mark globally and doing well. Indus Insights has been in the business for a good number of years and this fresh funding will signal for a renewed push to grow faster.
Website: Indus Insights