Big Data focused early stage startup fund, that had launched its operations in India in September this year, has made its first investment in Bangalore based big data analytics startup – Flutura.
The financial details of the funding have been left undisclosed by both the companies.
Flutura deals in the IoT (Internet of Things) analytics space and is focused on monetizable business use cases. It operates at the intersection of Machine Data and Big Data Analytics.
“We are seeing considerable traction in the strategic IoT markets – US, Japan and Germany. We chose Hive for their visionary approach and their ability to execute through strategic relationship in these markets,” said co-founder, Krishnan Raman.
Apart from funding the startups Hive also helps them in enhancing management bandwidth, accelerating the product development (Access to Silicon Valley – Product/Technology stack), providing help in building prototype, market validation and business plan, and by facilitating access to an ecosystem of US founders/Strategic Partners and Clients.
Flutura has developed a platform called Cerebra – which harvests signals from machines in real time and gives the product users an absolute visibility of their operations and empowers them with the ability to choose how they want to act in different scenarios. Its ability to capture signals from complex machine generated logs, and harnessed previously untapped data, making it the future generation intelligent Big Data platform.
The funds will be used by the company for expansion in strategic markets and also for expanding its product Cerebra.
Flutura was founded by Krishnan Raman, Derick Jose and Srikanth Muralidhar, who had scaled up a global data and analytics business unit in their last stint. Founded in 2012, Futura has worked with a number of Fortune 25 customers across India, MiddleEast, Europe and the US. It was also the winner at TechSparks 2013, and is identified globally amongst the Top 20 Most Promising BigData companies to watch out for, by CIO Review in the Bay Area.
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