Bengaluru-based IoT startup Flutura Decision Sciences and Analytics has raised $7.5 Mn Series A funding, led by Vertex Ventures and supported by Lumis Partners and existing investor, The Hive.
Founded in 2012, by Krishnan Raman, Derick Jose and Srikanth Muralidhara, Flutura is a big data analytics solutions provider with a vision to transform operational outcomes by monetising machine data. It does so by triangulating economic impactful signals from fragmented data pools. The startup will use the funding for market expansion and to focus on deep industry expertise.
Flutura’s flagship software platform, Cerebra, provides diagnostics and prognostics through machine learning and artificial intelligence, to unlock new business value for engineering and energy customers across the globe. It clientele includes the likes of Henkel, Stewart & Stevenson and Sodexo, etc.
Rohit Bhayana, Managing Partner and co-founder, Lumis Partners said, “Flutura, in a short span since founding has accomplished a very mature solution-set for the Industrial IoT space. The solution relevance is clearly visible, from the global traction it has garnered, and the value adding use cases it has powered.”
Flutura has operations in Palo Alto, Houston, Tokyo, and Bengaluru. It was accelerated by Microsoft Ventures in the Hi-Po scale-up programme. It had earlier received a Seed fund from the Palo Alto-based Hive, which is focussed on the big data and analytics space.
Vertex is a global venture capital group with cumulative committed capital in excess of $2.5 Bn. It invests in early-stage IT and healthcare opportunities in China, Silicon Valley, India, Israel, and South East Asia.
Earlier in September 2016, SaaS-based real-time customer sentiment mapping and experience analytics startup, Cloudcherry raised $6 Mn from Vertex Ventures. In February 2016, Pune-based IoT startup, Altizon Systems, raised $4 Mn in Series A funding round led by Wipro Ventures, the venture capital arm of Wipro. Other startups in this segment include Innovaccer, BRIDGEi2i, Qubole, etc.
