Big data startup Qubole raises funding from Singtel Innov8
By Raaghav G R
Qubole is a Bengaluru – based Big Data startup. The startup announced yesterday (10/11/2017) that it has raised US $25 million (Rs. 163 crores) in Series D round of funding led by Singtel Innov8 and Harmony Partners. The startup's existing investors such as Lightspeed Ventures, Norwest Venture Partners, Institutional Venture Partners (IVP) and Charles River Ventures also participated in that round of funding. The startup will use the funds to expand its presence in India, Australia, Singapore and other countries. Read more on Investments
"There is a significant opportunity for big data in the Asia Pacific region. Qubole makes it easy for enterprises to access best-in-class analytics for quicker, more accurate decision making in a cost-efficient way", said Punit Chiniwalla, senior director at Singtel Innov8.
Singtel Innov8 is the corporate venture capital arm of Singtel Group. It has a total investment corpus of US $250 million for investments in Indian startups. The VC firm has a presence in Singapore, US, Israel and other countries. Qubole has appointed former Oracle CEO, Kevin Kennedy as its chief operating officer (COO) and Mohit Bhatnagar as its senior vice president (SVP). Prior to this, Mr. Bhatnagar worked with NetApp, McKinsey and Symantec. During January, last year (2016), the startup had raised Rs. 203 crores (US $30 million) in Series C round of funding led by IVP Ventures along with participation from Lightspeed and Norwest. The startup was co – founded by IIT – Delhi alumni, Ashish Thusoo and Joydeep Sen Sarma in 2011. Qubole provides Big Data services through technologies such as Hadoop and Spark. The startup works with all the cloud platforms available such as the ones provided by Google (GCP), Microsoft (Microsoft Azure) and Amazon (AWS).
"Qubole is now at a pivotal growth point. Our sales momentum and product innovation during the last year have propelled us to the next stage of our global expansion", said Ashish Thusoo.
The other Big Data startups that got funded this year include the Big Data startup, Voke which secured US $10 million in Series A round of funding from Infosys during November, 2016. The IoT and Big Data analytics startup, Flutura Business Solutions secured US $7.5 million in Series A round of funding from Vertex Ventures during February, this year (2017) and finally the cloud and big data based startup, ParaBlu secured Rs. 3.4 crores in Seed funding from KStart during June, last year (2016). Read more on Startup News
Related Items:bengaluru, Big Data, cloud, FUNDING, Hadoop, investment, Qubole, Singtel Innov8, Spark, STARTUP, VC
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