Bangalore based Biotech data analytics firm InterpretOmics secures INR 10 Crore investment
Bioinformatics focused big data startup InterpretOmics has raised Rs.10 Crore investment from a group of investors led by Amarante, a Singapore based logistics solution company. The round was also participated by two Indian angel investors including MP Somaprasad.
Following the investment, one of the investors will join the startup board. Speaking to Yourstory, Prahalad H. Achutharao, co founder, InterpretOmics said “The raised capital would be used for product development, research, marketing and rolling out its product-line globally”.The Bangalore based firm architects computational technology pertaining to Big Data Biology and research in genomics spanning across verticals like human health, energy, agriculture and medicine. The company's flagship product - iomics is country’s first enterprise class genomics data analysis platform that addresses the full spectrum of Next Generation Sequencing data challenges.
Started in 2009 with Rs 5 lakh seed capital InterpretOmics has over 17 clients such as Biotech SME, CRO, Crop Science, several Healthcare Providers, All India Institute of Medical Sciences, Biocon including other government bodies. With a team of nine, the startup aims to clock a revenue of over Rs 360 crore in the next two years.
The big data market in India, which presents a huge market opportunity for the IT and analytics firm has been estimated to touch $1 billion by 2015. According to a NASSCOM report the global 'Big Data' market opportunity is estimated to grow at 45 per cent annually to reach $ 25 billion by 2015, from the current size of about $ 8 billion