Data engineering startup Sigmoid has raised $12 million in a Series B funding round from Sequoia Capital India in a mix of primary and secondary funding. Till now, Sequoia has invested $19.3 million into the data engineering startup.

As per the startup, the raised funds will be used for market growth, expansion of delivery centres, and focusing on newer industry segments. 

Sigmoid | Data Engineering & AI Consulting 

Founded by Lokesh Anand, Rahul Kumar Singh and Mayur Rustagi in 2013, Sigmoid is a data engineering and AI solutions startup that helps enterprises gain a competitive advantage with effective data-driven decision-making.

The startup leverages its expertise in open-source and cloud technologies to develop innovative frameworks catering to specific customer needs. 

Speaking about the development, Lokesh Anand, CEO and Co-founder of Sigmoid, said, 

“The last 12 months have been an inflexion point in our growth story. As we gear towards our next phase of growth, we are happy to see Sequoia Capital India continue to believe in us. This will help us to rapidly expand our capabilities in terms of solutions and talent to meet the ever-growing customer demand.”

The tech solutions offered by Sigmoid have been deployed across enterprises in sectors such as consumer packaged goods, retail, banking, financial services, manufacturing, and other verticals.

Citing a study by Gartner, Sigmoid noted that by 2025, around 80% of organisations seeking to scale digital business would fail because they do not take a modern approach to data and analytics governance.

Commenting on the development, Anandamoy Roychowdhary, Principal, Sequoia Southeast Asia, said,

“The AI/ML market continues to grow year-on-year and alongside that, the need for solutions to help enterprises adopt and harness this power is growing exponentially. The team at Sigmoid, which stands out for its data and AI engineering excellence, are well-positioned to capture this opportunity.”

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