On Tuesday, Star India Pvt. Ltd. was reported to have invested close to $10 million in data science and analytics startup Sagacito Technologies Pvt. Ltd.
Aiming to help businesses maximise their market share through predictive analysis, Sagacito was started by two former executives from Bennett, Coleman & Co. Ltd (BCCL) - Ravi Dhariwal and Arunabh Das Sharma.
However, Star India refused to comment on the size of the investment. Prateek Garg, head of business development at Star India said,
“Star India has identified big data and analytics as one of the focus areas, and Sagacito is one of our partners in this pursuit. To help Sagacito accelerate its growth, Star India has decided to make a minority investment in this business.”
Co-founder Arunabh states that they’re trying to find solutions to real problems through Sagacito. Further, with technology disruption, companies are looking to cut costs and make more margins.
Adding on to the statement was Ravi. He said,
The most important decisions a company has to make are on pricing and their offering. Our analytics tools will study transaction data both online and offline and can be used across all sectors will help better decision making.
Sagacito is a cloud-based enterprise solution which claims to use both internal and external databases to create measurable insights, going beyond conventional data manipulation and computation capabilities.
As per NASSCOM estimates, the Indian analytics industry is projected to be about $2.3 billion by 2017-18. Further, industry reports suggest that between 2010 and 2016, data analytics startups in India have attracted $250 million in funding so far.
Just last month, Star India chairman and CEO Uday Shankar announced investing $5 billion more in the country over the next three years.