SIBIA Analytics, a Kolkata-based startup has raised an undisclosed amount of Seed investment from a group of investors in India and USA, including Radhakrishnan Natarajan.
It plans to invest the newly raised funding for scaling up its marketing and sales and capture new markets in India and overseas. A part of the fund will also to be used on improving the products.
Founded in 2013 by Angshuman Bhattacharya, SIBIA Analytics provides predictive analytics solutions through its products and customised services for retail and consumer brands. It counts the top FMCG and retail companies in India as its customers. Krishna Iyer joined the company in 2014 as a co-founder.
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Angshuman Bhattacharya, CEO SIBIA Analytics said, “The emerging businesses across the world are still to leverage the benefits of analytics. The appreciation that analytics can improve their bottom lines or increase top lines significantly; has just started to come in. However, large-scale analytics implementations are beyond budgets for most of these companies. We come into play here and offer our low-cost yet high-value, cloud-hosted analytics solutions to the clients, and help them start the journey of analytics”.
SIBIA has developed two cutting-edge predictive analytics solutions. Early this year, SIBIA was inducted to MJunction’s incubation programme and the team has been operating out of MJunction’s facility at Sector V, Salt Lake City, Kolkata.
Earlier this week, data analytics startup Realbox raised $300K in Pre-Series A funding in a round led by Hyderabad Angels. In August 2016, Gurugram-based Cuberoot Technologies, a data analytics company, raised nearly $500K from undisclosed investors. Other players in the industry include IntelligenceNODE, Indus Insights, Axtria, BRIDGEi2i, etc.