Bangalore-based startup IQLECT which provide products and solutions in the data space for enabling BigData analysis in RealTime, has raised funding from US investors. The funding was led by founders of VC firms Walden International and Riverwood Capital including Lip-Bu Tan (founder of Silicon Valley-based Walden International and CEO of Cadence Design Systems); Michael Marks (former CEO of Flextronics and founding partner at Riverwood Capital); and Nicolas Braithwaite (founding partner at Riverwood Capital and former Flextronics CTO), have invested in their individual capacity.
The round also saw participation from Ganapathy Subramaniam, venture partner at Walden. Post investment, Lip-Bu has become an advisor to the company.
Last year, the company raised $2 million from Exfinity Ventures. Founded by former Jabong India CTO Sachin Sinha, IQLECT has build a hardware-software converged platform to provide data insights in real time. The company is building a line-up of clients for businesses such as eCommerce, financial services, web and digital media, personalized and targeted marketing, mobility and internet of things.
Sachin is an IIT Kanpur alumnus with 17 years of industry experience. Previously he worked at LimeRoad as the CTO and at Amazon as a senior engineering manager.
Image Credit: IQLECT’s FB Page