Crayon Data Raises Funds for Overseas Expansion

Chennai and Singapore-based big data analytics firm Crayon Data has raised Rs 7.3 crore (c.$US 1.2m) from Jungle Ventures and Spring Seeds Capital, and is planning to use the investment to expand its operations overseas.

Founded in 2012 by former IBM exec Suresh Shankar and former VivaKi Chairperson Srikant Sastri, the firm is currently building a business and technology platform which it says will mine hidden insights, patterns and correlations from huge amounts of consumer information gathered from public, online, social media and enterprise data.

Since its launch, Crayon Data has raised Rs 27 crore in venture capital from a number of angel investors including Meng Wong, co-founder of the Joyful Frog Digital Incubator; William Bissell, MD of Fabindia; Ernest Pomerantz, Chairman of Stone-Water Capital; and Ravi Thakran, Managing Partner of L Capital.

Shankar says the new funds will be used to 'scale up technology' and expand operations in markets such as the US, UK, Middle East and China.

Web site: www.crayondata.com .