With the current round, Sequoia has $19.3 million in Sigmoid.
The startup will use the capital to evolve its market offerings, expand delivery centers and cater to new industries.
Founded in 2013 by IIT Kharagpur alumni Lokesh Anand, Mayur Rustagi and Rahul Kumar Singh, Sigmoid provides data engineering and AI consulting to help enterprises gain competitive advantage through effective data-driven decision-making.
“The last 12 months have been an inflection point in our growth. We are happy to see Sequoia Capital India continue to believe in us. This will help us rapidly expand our capabilities in terms of solutions and talent to meet the growing customer demand,” said Anand, chief executive officer at Sigmoid.
The startup’s solutions are leveraged across industries such as FMCG and investment banking to improve campaign optimisation and return on marketing investments, and to faster locate regulatory compliance issues during trade surveillance.
Discover the stories of your interest
“The AI and machine learning (ML) market is growing year-on-year and so is the need for solutions to help enterprises adopt and harness this power. The team at Sigmoid, which stands out for its data and AI engineering excellence, is well-positioned to capture this opportunity,” said Anandamoy Roychowdhary, principal, Sequoia Southeast Asia.
Currently, Sigmoid comprises a team of over 500 data professionals, providing expertise in data engineering, cloud data modernisation, AI, and data operations. Of this, 80% of the workforce is in India with a majority of its revenues coming from US clients.
