Equirus InnovateX Fund led $1 M Seed funding raised by data engineering startup Datazip
In a seed funding round, Datazip, a data engineering startup with headquarters in Bengaluru, raised $1 million, with Equirus InnovateX Fund contributing Rs 6 crore.
With this investment, EIF has deployed its $30 million venture capital fund with a tech focus twice. Before this, Datazip had obtained $202K from investors including Anicut Capital.
The additional funds will be used to create cutting-edge analytics and data engineering products in India.
Datazip was co-founded in 2022 by Sandeep Devarapalli, Shubham Baldava, and Rohan Khameshra. Its goal is to create a modular lakehouse platform that will increase data engineers’ output tenfold. The platform’s goal is to assist businesses in streamlining their data workflows and obtaining real-time insights so they can maintain their competitiveness in an industry that is changing quickly.
From 2023 to 2033, the data lakehouse platform market, currently valued at $11.1 billion, is expected to grow at a remarkable compound annual growth rate (CAGR) of 22.9%, with a potential peak value of $66.6 billion. With 15 clients already on board, Datazip is concentrated on growing rapidly over the next year in order to revolutionize the way companies handle massive datasets in real-time.
