Bengaluru-based big data analytics startup Iqlect has raised over $2.5 million in a bridge round. The funding was chiefly led by new investor VentureEast and existing investor Exfinity Ventures.
Iqlect, whose clients and partners include noted names such as SAP, Accenture, Makemytrip, and IIT Kanpur, among others, is now planning to move their base to San Jose, US. The company creates products that use predictive and real-time data analytics to monitor and predict user and machine behaviours.
Sachin Sinha, CEO at Iqlect, told a leading daily, “We are looking to hire VP’s for engineering, product management, marketing and sales and also a country manager for India. Also, we are flipping the company to make it a US company. So, we are hiring go-to-market folks and a few key tech guys for our US office.”
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— Sachin Sinha (@Sachin_Sinha1) June 29, 2018
The startup provides software-as-a-service (SaaS) product solutions to enterprises in industries including infrastructure, e-commerce and security, among others. Their products use technologies such as artificial intelligence, machine learning, real-time engagement, segment events, data centre solutions, log analysis, and predictive maintenance, among others.
Shailesh Ghorpade, managing partner at Exfinity Ventures told the newspaper, “A deep-tech company that seeks to make real-time data analytics more easily accessible, Iqlect offers an affordable full stack analytics solution. The platform, operating on a flexible plug-and-play model, is a departure from existing solutions by competitors.”