[Tech30] How this Bengaluru-based B2B startup enables enterprises to retrieve critical data in minutes
Founded by Tapesh Goyal and Rajesh Vaidhyanathan in August 2018, Bengaluru-based Tech 30 startup Nimesa leverages virtualisation technology for data management, promising considerable savings in time and money.
A humungous amount of digital data is generated every second, bringing its own set of challenges. Enterprises not only have to store it but also need to retrieve data in a matter of minutes - a feat easier said than done.
In the current environment, enterprises globally constantly face the challenge of retrieving critical data almost immediately, which can take hours, days, and even weeks, costing billions of dollars.
Now, Bengaluru-based startup Nimesa is here with a solution. The business-to-business (B2B) startup promises to retrieve all the relevant data in a matter of minutes. Nimesa, which means ‘blink of an eye’, was founded by Tapesh Goyal and Rajesh Vaidhyanathan in August 2018.
The founders are seasoned technology executives, who have worked in large corporations like NetApp and Dell Technologies. This is Tapesh’s second entrepreneurial venture. His first startup, still operational, is in outsourced product development in niche areas like storage and security.
A versatile solution
Tapesh says, “Current data management solutions are highly complex and costly, which are not scalable and fail customers often.”
He further adds that enterprises, despite large and complex IT systems in place, pay a huge amount of money to recover this information. This becomes more critical when an enterprise faces a cyber attack and needs to retrieve information almost immediately.
Nimesa’s solution is a patent-pending “data agility” time machine workflow solution. Tapesh explains that current solutions create a physical copy of data, which can lead to considerable lag in recovery.
“Our innovative platform-native approach creates efficiency in space and time as we make a virtual copy of servers, databases, and critical applications, allowing users to do full backups and recovery from those virtual copies in minutes. It also takes 10x less space than current solutions in the market,” he says.
Typically, enterprises store information in a file-based system. Nimesa reworked this entire architecture to a disk-based backup and with virtualisation technology, it creates a virtual copy of the data, making information retrieval much faster and easier.
Nimesa’s technology solution has several use cases, including ransomware recovery, analytics acceleration, cloud migration, hybrid cloud management, and DevOps acceleration, to name a few.
The market opportunity
According to industry reports, the data governance market was valued at $1.1 billion in 2017 and is projected to touch around $3.53 billion by 2023, recording a compounded annual growth rate (CAGR) of 22 percent. This growth is largely due to data volumes, rising regulatory and compliance mandates, and increasing business collaborations.
Nimesa has been targeting enterprise customers globally. Its key markets are North America and Europe. The startup already has a few paying customers in the US and India. It operates on the software as service (SaaS) business model, charging for the number of servers present in a company, with monthly and annual subscription models.
The startup is also engaged with a few pilot projects with large global enterprises.
Tapesh says the startup is partnering with a few original equipment manufacturers (OEMs) as part of the team’s plan to create deeper engagement with the enterprises . Under this, OEMs will integrate Nimesa’s solution with their products.
At present, Nimesa is bootstrapped and has a team of less than 10 people. The startup is now looking to add a greater number of people besides expanding to various locations. It is yet to break even in its operations and is looking to raise funds over the next nine months.
It competes with other entities that provide similar solutions - a mix of established technology companies and startups. But, Tapesh strongly believes that Nimesa’s solution’s USP lies in the multi-fold efficiency it brings to a customer’s table.
The co-founder believes that the whole data management challenge is a multibillion-dollar problem, waiting for many innovations to happen.
“It inspires us and keep us going day and night even we face lots of challenges,” he signs off.
(Edited by Saheli Sen Gupta)
YourStory’s Tech30 companies list is an annual selection of 30 carefully curated and disruptive tech-based startups that we believe will shape the new narrative for India and the world. To get a complete overview of the 2019 Tech30 companies list, download the Tech30 Report here.