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Leo Capital leads seed funding in LOGIQ

Bengaluru: Logiqai Software India Pvt Ltd, which operates artificial intelligence (AI)-based observability platform LOGIQ, has raised $1.8 million (Rs 13.2 crore) in a seed funding exercise.

The round in Bengaluru-based LOGIQ has been led by Leo Capital, it said in a statement. Leo Capital is an early-stage technology-focussed venture fund. It was set up in 2018 and has so far added over 20 companies to its portfolio.

Some of Leo Capital’s other investments include automation testing platform Lambdatest, diabetes management startup BeatO, logistics firm Vahak, and gaming platform Bombay Play.

LOGIQ was set up last year by Tito George and Ranjan Parthasarathy. The company says its platform helps IT and DevOps teams at enterprises solve the problem of handling the volume and variety of data within their organizations.

The firm says its mission is to make all IT data accessible and analyzable through services such as unifying data types, machine learning-based analytics, and performance metrics assessment.

It will use the capital it has raised to enhance its technological infrastructure while expanding market reach, Parthasarathy said in a statement.

Source
VCCiRCLE

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