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Cloud based startup Hevo Data secures funds from IDG Ventures

Hevo Data is a Bengaluru and San Francisco – based, cloud-based, data integration startup. The startup helps businesses to better utilize their data to make better and more – informed decisions. The startup announced yesterday (06/11/2017) that it has secured US $1 million in Seed round of funding from IDG Ventures India. The funds will be utilized to hire a team and expand its operations across the US. Read more on IDG Ventures

“Today, enterprises are investing heavily in technology to strengthen and empower their data teams to gain the competitive advantage in their space. We invested in Hevo Data because we saw a strong team building a product that fills a critical gap in the market”, said IDG Ventures India Executive Director, Venkatesh Peddi.

Hevo Data was founded in 2016 by Sourabh Agarwal and Manish Jethani. The startup is SaaS startup and provides data integration service to businesses. The founders of the startup developed a food delivery app called SpoonJoy, which they later sold to Grofers in 2015. Hevo data relies on machine learning techniques to analyze data from different sources/types such as video, text etcetera.

Speaking about the platform’s primary services, Hevo Data co-founder and CEO, Manish said, “There is a clear need in the market for a product that serves the needs of the teams building data-driven applications. This platform removes all the effort”.

The health-tech platform, Cure.fit and the food delivery startup, Swiggy are among Hevo Data’s clients. Cloud Computing based startups are rare as cloud computing is a domain that requires a lot of skill but among the cloud computing startups that got funded this year is Minjar Cloud Solutions Pvt. Ltd. which raised an undisclosed amount of Pre-Series funding from the VC firm, Blume Ventures during July, this year. Read more on Startup News

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Cloud based startup Hevo Data secures funds from IDG Ventures
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