Sequoia Capital India has contributed $12 million to Sigmoid, a US-based data engineering business, as part of a series B fundraising round. Sequoia Capital India has so far contributed $19.3 million in total to Sigmoid.
Sigmoid, a company founded in 2013, intends to assist enterprises in accelerating digitalization by improving data and analytics governance and facilitating quicker access to business insights. Over 500 data specialists with training in data engineering, cloud data modernisation, AI, and data operations make up the company’s staff.
According to the business, it has worked with big businesses in consumer goods, retail, financial services, and other sectors. “The last 12 months have been an inflection point in our growth story,” Sigmoid CEO and co-founder Lokesh Anand said in a statement.
To allow in-flight campaign optimization for a fast-moving consumer products firm, Sigmoid has created self-adapting multitouch attribution models. The company has also enhanced the trade surveillance infrastructure of an investment bank and created a consolidated data lake for a food producer.
With the additional funding, Sigmoid will be able to serve more industries and increase the number of its delivery locations.
Numerous businesses, including GoTo, Kopi Kenangan, Freshworks, Polygon, and Zomato, have received funding from Sequoia Capital India and Sequoia Capital Southeast Asia.
