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Big data startup Qubole raises $25 mn from Singtel Innov8, others

10 November, 2017

US- and Bengaluru-based big data-as-a-service startup Qubole has raised $25 million (Rs 163 crore) in a funding round led by Singtel Innov8 and Harmony Partners, the company said in a statement.

Existing investors Lightspeed Ventures, Norwest Venture Partners, Institutional Venture Partners (IVP) and Charles River Ventures also took part in the funding round.

The company will use the funds to expand in India, Australia, Singapore and other countries.

“There is a significant opportunity for big data in the Asia Pacific region. Qubole makes it easy for enterprises to access best-in-class analytics for quicker, more accurate decision making in a cost-efficient way,” said Punit Chiniwalla, senior director at Singtel Innov8.

Singtel Innov8 is the corporate venture capital arm of Singtel Group. It has a fund size of $250 million, with presence in Singapore, US, Israel and other countries, according to its website.

Qubole also said it has appointed former Oracle executive Kevin Kennedy as chief operating officer and Mohit Bhatnagar as senior vice president of products. Bhatnagar has earlier worked at NetApp, McKinsey and Symantec.

In January last year, the company had raised Rs 203.34 crore ($30 million) in a Series C funding led by IVP along with participation from Lightspeed and Norwest.

The startup was co-founded in 2011 by IIT-Delhi alumni Ashish Thusoo and Joydeep Sen Sarma. Thusoo is the CEO and Sarma is the head of Qubole India. Prior to starting Qubole, they had built and run a data service for social networking site Facebook.

Qubole is a big data-as-a-service provider for technologies such as Hadoop and Spark. Its service is cloud-agnostic, meaning it works on all cloud platforms including those provided by Amazon Web Service, Google and Microsoft.

“Qubole is now at a pivotal growth point. Our sales momentum and product innovation in the last year have propelled us to the next stage of our global expansion,” said Thusoo.

The company’s clients include Autodesk, Lyft, Samsung and Pinterest. In India, it counts Ola, Saavn and Indix among its customers.

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Big data startup Qubole raises $25 mn from Singtel Innov8, others

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