Ratan Tata-Backed Infinite Analytics Has Big Ambitions
The market for big data analytics is hot and happening. In recent months, a number of big data and analytics-focused startups are getting funding. One of these is Infinite Analytics, a Mumbai-based data analytics firm, that has reportedly raised an undisclosed bridge round of funding from Ratan Tata, who have been focused in investing into innovative startups.
Infinite helps customers like home-sharing firm AirBnB, ecommerce company eBay and Croma Retail mine hidden insights, patterns and unknown correlations from huge amount of data. It will use the funds to hire talent and scale up its operations in areas like retail and also explore new industries.
Existing investors including Nikhil Vora of Sixth Sense Ventures and new investors from Silicon Valley and India participated in this funding round. Tim Berners-Lee, inventor of the World Wide Web, and Deb Roy, Chief Media Scientist at Twitter, are advisers and investors in the company, according to a statement.
The genesis of Infinite Analytics can be traced back to a class in Massachusetts Institute of Technology, where Akash Bhatia and Purushotham Botla were studying. A project idea was seeded in a class presided by Berners-Lee is now a company. The company specializes in deep machine learning and predictive analytics. Its platform merges data from multiple sources collating information on customer demography, transactions, loyalty program and open data to create a 360-degree view of a user.
Since its inception in 2012, Infinite Analytics has raised a seed funding round from various investors from across Australia, Taiwan, India, the UK and the US. ”We are honored to have Mr. Tata as an investor and advisor. We look forward to working with him to uncover promising areas where we can deploy our analytics product,” said CTO Botla.
Tata has been on an investment spree post his retirement as the Chairman of Tata Sons in 2012, after being at the helm for over two decades. The first company that Tata invested in after his retirement was Altaeros Energies, a US-based wind power developer. He later ventured into the e-commerce space by investing in India’s e-commerce website, Snapdeal and since then, he has been redefining the meaning of “angel investors” for the e-commerce space.
In August 2014, Tata invested an undisclosed amount into India’s e-commerce website Snapdeal.com that is backed by Kalaari Capital. The portal also has Wipro’s Azim Premji as an investor. A month after that, Tata invested in another company, Bluestone, an online jewellery portal, also backed by Kalaari Capital. The company was founded by an IIT graduate, Gaurav Singh Kushwaha.
Tata then made another company Urban Ladder popular, which deals in online furniture and home décor space. The e-portal was founded by IIM-Bangalore graduates Ashish Goel and Rajiv Srivatsa in July 2012.
Online portal cardekho.com was his reach venture. The startup was started by two IIT-Delhi graduates, Anuraj and Amit Jain, and has earned a big name in online car buying and selling deals alongside comparing and reviewing.
In March this year, Tata invested in One97 Communications, the company that operates Paytm, an online payment solution entity. Headquartered in Noida, the company also offers the option of an online wallet to its users now. The company’s website said that they now have over 80 million registered users, and handles over 60 million orders per month.
Again in April, China’s largest smartphone maker, Xiaomi got its first Indian investor as Ratan Tata. The company’s CEO Lei Jun plans to make India an important market for the phone too.
In June and July, Tata has made deals with a number of e-commerce startups, from Nidhi Agarwal Kashyap fashion portal Kaaryah to Singapore based venture capital company Jungle Ventures, where he has joined the company’s board as a special advisor, and will mentor the company’s in the venture capital firm’s portfolio. He has also made mentorship commitments to Ola Cabs.
Tata has made a personal investment of an undisclosed amount in the online marketplace for chefs Holachef. It is a food-based startup launched in September 2014 by Saurabh Saxena and Anil Gelra that has been rapidly increasing the customer base in Mumbai and more recently in Pune.
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