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New Delhi-based data science and analytics startup Sagacito Technologies has reportedly raised close to $10 Mn from Star India Pvt. Ltd, a subsidiary of Rupert Murdoch’s Twenty-First Century Fox Inc.
According to the sources close to the development, Star India has invested $1 Mn in Sagacito against 10% equity and another $8.2 Mn through a build-and-operate model under which it will use the startup’s tools and services for five years.
A mail sent to Sagacito did not elicit any response.
Sagacito was founded by former executives at Bennett, Coleman & Co. Ltd (BCCL), Ravi Dhariwal and Arunabh Das Sharma, and Ankit Garg. It is a cloud-based, mobile first enterprise products company that works with both structured and unstructured data to create machine learning-based algorithms to positively impact business outcomes.
The company plans to transform pricing and revenue management through its proprietary suite of revenue management products for a range of Industries like media, entertainment, healthcare, logistics, hospitality and travel.
With the new round of funding the company plans to ramp up its team and drive its aggressive product development and geographic expansion plans. Star India is its first client and apart from media houses, Sagacito plans to focus on healthcare, cargo and logistics, hospitality and consumer products.
Prateek Garg, head of business development at Star India, said, “Star India has identified big data and analytics as one of the focus areas, and Sagacito is one of our partners in this pursuit. To help Sagacito accelerate its growth, Star India has decided to make a minority investment in this business.”
Various companies are using data analytics tools to create personalized experiences for their customers while bringing in operational efficiencies. It helps them in logical analysis of data or past trends to predict future outcomes and gain actionable insights to make strategic business decisions.
According to Tracxn data, data analytics startups in India have attracted $250 Mn in funding, between 2010 and 2016. Last month data analytics solutions startup BRIDGEi2i raised Series A funding from Edelweiss Private Equity while, Fractal Analytics raised $100 Mn from Khazanah Nasional Berhad, in May this year.
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