Sigmoid, a data engineering, analytics, and AI solutions company, has raised ₹12 million in a Series B round from Sequoia Capital India in a mix of primary and secondary funding.
This takes Sequoia Capital India’s total investment in Sigmoid to $19.3 million. The money will be used to enhance market offerings, expand delivery centres and cater to new industries, it said in a press release.
Lokesh Anand, CEO and co-founder of Sigmoid, told BusinessLine, “We are investing in different accelerators that are building for different industries and helping us offer solutions for industriessuch as consumer goods and banking and finance.” Sigmoid plans to double its headcount of over 500 in 12-18 months, he added.
Founded in 2013 by Anand, Mayur Rustagi (chief technology officer), and Rahul Kumar Singh (chief administrative officer), Sigmoid combines data engineering and AI consulting to give enterprises a competitive advantage through data-driven decision-making.
Sigmoid offers data solutions, AI engineering, and cloud data migration services.
“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, are well-positioned to capture this opportunity,” said Anandamoy Roychowdhary, Principal, Sequoia Southeast Asia.
Published on
September 15, 2022
