Venture capital firm IDG Ventures India has funded Hevo Data a startup that has its operations out of Bangalore as well as San Francisco. The current investment is to the tune of $1 million (Rs 6.5 crore, approx.). Hevo Data expects to use these funds in expanding its current operations in the US and in recruiting and building a team there.
Hevo Data is into offering cloud-based data integration platform. With data storage, retrieval and security becoming critical for organizations across the spectrum, Hevo Data helps their customers the support needed for data integration within their setups.
The promoters are not new to startups. Sourabh Agarwal and Manish Jethani had earlier promoted SpoonJoy, which is a food delivery venture but they off-loaded it to Grofers. The current startup Hevo Data was launched in 2016 based on the SaaS technology.
The services provided by Hevo Data are described as collecting, cleaning and enriching data. And whoever is engaged in this will find the support rendered by Hevo Data useful and relevant. Some of their clients in India include Cure.fit, a healthtech firm and the popular food delivery startup Swiggy.
Hevo Data also deploys latest technologies like machine learning and data analytics to good use in their service offerings. For its cloud offerings, it uses the services of Amazon Web Services, Google Cloud and Microsoft Azure.
Data integration itself is seen as one of the fastest growing business verticals within the technology space. IDG Ventures India has identified this potential and chosen to Hevo Data to the 50-odd tech startups that it has already funded and is quite confident that Hevo Data has a bright future ahead.