BENGALURU: Bengaluru-based real time data analytics company IQLECT, founded by Ex-CTO of Jabong.com Sachin Sinha, is set to raise Series A round of funding. In July 2015, the company raised US$2 million in seed funding from Exfinity Venture Partners. Exfinity venture partners is backed by software industry veterans such as Ex-Infosys Directors TV Mohandas Pai & V Balakrishnan among others.
Recently, Lip-Bu Tan, Founder of Silicon Valley-based Walden International and CEO of Cadence Design Systems; Michael Marks, former CEO of Flextronics and founding partner at Riverwood Capital; and Nicolas Braithwaite, founding partner at Riverwood Capital and former Flextronics CTO, have invested in their individual capacity too. The company says that so far it has used these funds to build a world class product, both for cloud and on premise. With next round of funding IQLECT will be expanding the geographical reach and building a line-up of clients in e-commerce, financial services, media and telecommunication industries.
IQLECT provides a ready-to-use software converged platform, for users to enable real-time data analysis for their businesses, in a cost-effective and process-efficient manner. IQLECT in partnership with Dell offers fully baked up, all-in-box solution that contains all necessary software pieces, which can be hosted on premise by enterprises.
IQLECT is also set to launch the cloud offering during VLDB conference next week. VLDB (Very Large Data Bases) is an International forum for database researchers, vendors, practitioners, application developers, and users. The conference which is slated to be held in India after 20 years from 5th to 9th September in Delhi will feature research talks, tutorials, demonstrations, and workshops. VLDB conference is backed by Facebook, Google and LinkedIn among others and thousands of big data enthusiasts are set to visit this year.
V Balakrishnan, Partner and Chairman of Exfinity ventures noted that, launching enterprise grade cloud product is an important milestone in the journey of IQLECT and businesses small or big can deploy real time analysis solution with a click of a button and take decisions for the desired business outcome
IQLECT’s cloud offering help simplifies the overall proposition to start getting insights with real-time data and analysis in less than few hours. The real-time stack for analysis could be launched in few clicks by the user in a fully featured manner. For corporations, IQLECT is a perfect fit since it offers an end to end solution with Ingest, Process, Store, Visualize, Act, Correlate, Notify all built in to the product. The product’s data visualization capability with intuitive and configurable dashboard paves way for predictive analytics and makes it easy to run different workflows for diverse business processes. Companies can use IQLECT platform in various ways.
Looking ahead at the cloud offering launch, Sachin Sinha, Founder & CEO, IQLECT, said, “We are delighted to officially launch our cloud offering during VLDB 2016 conference. It’s an important opportunity for us to showcase our product to industry peers and big data experts during VLDB 2016.”