AI options supplier Sigmoid has raised $12 million funding from Sequoia Capital India right now.
With the present spherical being a mixture of main and secondary funding, Sequoia has invested $19.3 million in Sigmoid until date.
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The startup will use the capital to evolve its market choices, broaden supply facilities and cater to new industries.
“The final 12 months have been an inflection level in our progress. We’re glad to see Sequoia Capital India proceed to consider in us. This may assist us quickly broaden our capabilities by way of options and expertise to satisfy the rising buyer demand,” stated Lokesh Anand, chief govt officer at Sigmoid.
Established in 2013—IIT Kharagpur alumni Lokesh Anand, Mayur Rustagi and Rahul Kumar Singh based Sigmoid to offer information engineering and AI consulting for enterprises to assist them achieve aggressive benefit by way of efficient data-driven resolution making.
In response to Anandamoy Roychowdhary, principal, Sequoia Southeast Asia, “The AI and machine studying (ML) market is rising year-on-year and so is the necessity for options to assist enterprises undertake and harness this energy. The group at Sigmoid, which stands out for its information and AI engineering excellence, is well-positioned to seize this chance.”
The group presently includes over 500 information professionals, with over 80% of the workforce positioned in India. Majority of the revenues come from US shoppers, who’re supplied with experience in information engineering, cloud information modernisation, and information operations.
