Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Big data analytics startup Axtria has raised $30 Mn in series C funding led by Helion Venture Partners, which alone has made an investment of $15 Mn. Other investors who have invested in this round include Silicon Valley venture capitalist ‘Desh’ Deshpande along with existing investors Amar Sawhney, Rick Braddock and Fred Khosravi.
The funding will be used to hire staff, build a sales force, increase marketing, develop products and expand markets including new verticals and geographies. Sanjeev Aggarwal, Co-founder and Senior Managing Director of Helion will join the board of the company.
Founded in 2010, by Jassi Chadha and Navi Chadha, Axtria works with leading companies to help them manage and transform their business with data analytics. They combine industry knowledge, analytics, and technology to help their clients drive performance in sales, marketing, customer, revenue, risk, and supply chain management.
The 500+ team at Axtria is focused on verticals such as Life Sciences, Healthcare, Banking, Financial Services, Retail, CPG and High Tech. The company’s cloud-based analytical applications have 10,000+ users.
Jassi Chadha, Co- founder, Axtria, said “This is a very exciting time for Axtria and our partners. We continue to experience tremendous success and demand for our data analytics solutions across the industry verticals we operate in. We have thus far been funding the business with private capital. We are very proud to add Helion as a partner in our journey to build one of the largest companies in the data analytics industry. We’ll benefit tremendously from the expertise of Sanjeev and other Helion team members in scaling business and managing growth.
Axtria is looking towards the clients based in the US market primarily and is currently working with 60+ clients which include some of the largest companies in the LifeSciences, Healthcare, Banking, Financial Services, Retail, CPG and High Tech verticals.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.