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Delhi-based IndiQus Technologies has acquired data analytics startup Amicus Technologies in an all-stock deal.
Founded in April 2015 by Aayush Srivastava, Nikhil Parmar, Akashdeep Singh and Nishchal Dua, Amicus Technologies, has developed a patent-pending technology which converts large amounts of qualitative data into the “Real Cost” of the purchase. It ranks products, brands, and sellers on this parameter. The technology has excelled in collecting lots of data (Volume), processing it at scale, (Velocity) and removing fake reviews (Veracity).
On the other hand, IndiQus Technologies that was established in 2013 in New Delhi, is a boutique IT consulting and services company, enabling organisations across the globe to leverage their IT infrastructure to deliver maximum value.
Talking about the development, Aayush Srivastava, said, “IndiQus gives us an opportunity to keep working on improving user experience using data-driven decisions making. Our experience in consumer internet space will help in creating better platform and network effects, as IndiQus prepares to enter the growth stage.”
With this, Amicus CEO, Aayush Srivastava, will join IndiQus as Head of Product & Marketing, alongwith Software Engineer, Akashdeep Singh Lamba. Two other Amicus founders took an exit for an undisclosed amount.
The cloud infrastructure industry is $2.3 Bn in India currently, as per a report by Avendus Capital.
In context of the cloud infrastructure market, IndiQus’ CEO Sunando Bhattacharya opined, “We have been successfully addressing private, hybrid and public cloud projects in South Asia for marquee clients like Oxigen, Meritnation, Sri Lanka Telecom for the last 3 years, hitting a revenue of INR 5 Cr for FY14–15. As we are soon going to launch our Cloud Management software, we feel that data analytics would play an integral role in growing cloud businesses and this acquisition would help us build a huge differentiator in our software.”
Amicus Technologies was incubated at Startup Tunnel, as a part of its first cohort. With this, Aditya Dev Sood who invested in Amicus seed round will also have an equity stake and join the Advisory Board of IndiQus.
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