AI startup Sigmoid secured $12M from Sequoia Capital India


Sigmoid, a California-based data engineering, AI, and analytic solutions company, has now secured $12 million in Series B funding, in a mix of primary and secondary funding.

Sigmoid was founded by Lokesh Anand (CEO), Mayur Rustagi (CTO), and Rahul Kumar Singh (CAO) in the year 2013. It helps businesses to organize and manage their data, extract insights, build predictive systems and extract ROI from their data investments.

Many large organizations in retail, CPG, financial services, and some other industries use Sigmoid to extract strategic business value from data and make smarter business decisions.

Executive Opinion

Lokesh Anand, CEO, and Co-Founder at 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".

Anandamoy Roychowdhary, Principal, Sequoia Southeast Asia, said, "The AI/ML market continues to grow year-on-year, and alongside, 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, is well-positioned to capture this opportunity. As long-term partners, we are excited to double down on their goal to be the premier engineered data solutions and AI provider for accelerating digital transformation for enterprises across industries".

Sigmoid's Latest Funding

The round was backed by Sequoia Capital India, which took its total commitment to Sigmoid to $19.3 million.

The company, as of now, has plans to use the new funds to evolve its market offerings, expand delivery centers and cater to new business industries.
PC: Pixabay

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Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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