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Data analytics start-up Axtria has raised a $30 million (Rs 190 crore) funding led by technology focused venture fund Helion Venture Partners, which made a $15 million investment. The company will use the Series C funding for hiring, product development and marketing and expanding into new verticals and geographies.
Silicon Valley venture capitalist Gururaj ‘Desh’ Deshpande along with existing investors Amar Sawhney, Rick Braddock and Fred Khosravi participated in this round along with Helion. “We continue to experience tremendous success and demand for our data analytics solutions from across the industry verticals we operate in. We have thus far been funding the business with private capital,” Axtria Co-founder Jassi Chadha said.
Headquartered in New Jersey, Axtria has been focusing on clients in the US market primarily and is targeting expansion into Europe in 2016.
“Analytics services are more than $20 billion market with plenty of headroom for growth. Today, the infrastructure, software and analytical capabilities exist to transform the way enterprises drive data driven insights in their business processes,” said Sanjeev Aggarwal of Helion.
“Axtria sits at the cusp of this revolution in analytics, with a unique blend of industry and functional domain, technology, analytics and services capabilities,” Aggarwal added.
rajesh.kurup@thehindu.co.in
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