Databricks sees over 80% growth in Indian market buoyed by rising AI demand
Globally, Databricks' revenue surpassed $1.6 billion for the fiscal year ended January 31, 2024, marking an over 50% year-on-year growth.
Data analytics platform ' India arm has recorded an 80% annualised growth over the past two fiscal years—from February 1, 2022 to January 31, 2024.
The company attributes this surge to the rising demand for data and AI capabilities among Indian enterprises.
“Over the past two years, we have witnessed an increase in the demand for data and AI solutions across India from all industries, including FSI (financial services and insurance), retail, manufacturing, and digital natives,” said Anil Bhasin, Vice President and Country Manager for Databricks India.
The company recently launched its infrastructure on Google Cloud’s India (Mumbai) region to support its customer base and meet the demand for the Databricks Data Intelligence Platform.
“India is a key market for us and we’re pleased that so many of its leading enterprises and tech-driven startups have chosen Databricks to support their data and AI journey. To meet this growing demand, we’re doubling down on our investments in India, most recently with our launch of Databricks infrastructure on Google Cloud and the expansion of both our Indian go-to-market and R&D teams,” said Ed Lenta, SVP and General Manager for Databricks in Asia-Pacific and Japan.
Indian enterprises including Air India, Aditya Birla Fashion and Retail, CommerceIQ, Freshworks, InMobi, Meesho, Myntra, Parle, and UPL use Databrick's platform.
Globally, Databricks' revenue surpassed $1.6 billion for the fiscal year ended January 31, 2024, marking an over 50% year-on-year growth. During the financial year, it also went on an acquisition spree, taking over MosaicML, Arcion, Okera, Einblick, and Rubicon.
Its most recent acquisition was of Boston-based Lilac AI, a platform designed specifically for text-centric unstructured data.
With previous acquisitions like and , Databricks has steadily expanded its offerings, culminating in the launch of Databricks Mosaic AI, an end-to-end platform for AI development.
The platform also recently collaborated with chipmaker Nvidia to optimise data and AI workload on Databricks. Nvidia had also participated in Databrick's $500 million Series I funding round in November last year.
(The copy was updated with context.)
Edited by Kanishk Singh