Data analytics firm Crayon Data raises US$1.19M from Jungle Ventures
The capital will be used to expand Crayon Data’s products and operations to overseas marketsBy Saloni Surti 21 Feb, 2014
India- Singapore-based data analytics firm Crayon Data has raised S$1.5M (US$1.19M) from Singapore-based Jungle Ventures. Singapore government-owned Spring Seeds Capital also participated in the round.
The capital will be used to expand Crayon Data to overseas markets.
With the new round, Crayon Data’s total funding stands at US$4.35M. Last year, it raised nearly S$1.75M (US$1.4M) from Ravi Thakran, CEO, L Capital Asia and Head of LVMH Asia Pacific, and Ravi Mantha, President, TIE Singapore.
Crayon Data now has varied investors, including Meng Wong, Co-founder, Joyful Frog Digital Incubator; William Bissell, Managing Director, Fabindia; and Ernest Pomerantz, Chairman, Stone-Water Capital.
The data analytics firm was founded in 2012 by Suresh Shankar and Srikant Sastri. Crayon Data aims to become the go-to space for everything related to Big Data, including creating products and applications, and nurturing and developing ideas, thought leadership.
According to the company, it is in the process of building a business and technology platform that democratises the use of Big Data for the average business and consumer.
Crayon Data has been shortlisted to be a finalist at a digital innovation contest which will take place at CeBit – a trade fair for information and communications technology in Germany.
Featured and Lead Image Courtesy: Crayon Data