Investments, News, Technology

Crayon Data raises $1.4 Mn in an angel round from FabIndia and JFDI’s founders

Crayon-DataCrayon Data, a big data analytics firm has recently raised around $1.4 Mn in the second round of angel funding, reports TechInAsia. The investors include William Bissell, MD FabIndia and Ravi Thakran, Managing Partner L Capital Asia.

JFDI Startup Accelerator’s Co-Founder Meng Weng Wong and Ernest Pomerantz, Chairman of Stonewater Capital, also participated in this round.

Crayon will use the capital to enter strategic markets and also for product development. The other terms and details of the deal remain undisclosed.

The company was founded in 2012 and based in Singapore with a development centre in Chennai focused around big data problem solving techniques for businesses and consumers.

Its flagship product includes SimplerChoice engine, which helps consumers take better decisions by providing right number of choices, and One Analytics to help Businesses in Sales, Marketing and Need Generation analytics with the help of Big Data.

The company was founded and lead by Suresh Shankar, who previously sold RedPill Solutions to IBM. “The success of this round reflects a valuation increase of 75 per cent from the previous round of funding, which was concluded at the end of 2012,” said Suresh Shankar.

This led the total amount raised by the company to $4.15 Mn including the previous $2.75 Mn in the first round of angel funding earlier this year. The company is also planning to raise Series A funding in early 2014.

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