A mix of primary and secondary funding totaling $12 million was invested by Sequoia Capital India in a Series B round for the data engineering-focused digital startup Sigmoid.
The business intends to use this money to expand its customer base, add more delivery locations, and concentrate on fresher market niches.
Sigmoid, a company founded in 2013 by Lokesh Anand, Mayur Rustagi, and Rahul Kumar Singh, uses artificial intelligence and data engineering to provide solutions that support businesses in making data-driven decisions.
“The last 12 months have been an inflexion point in our growth story. As we gear towards our next phase of growth, we are happy to see Sequoia Capital India continue to believe in us. This will help us to rapidly expand our capabilities in terms of solutions and talent to meet the ever-growing customer demand”, Lokesh Anand, CEO and Co-founder of Sigmoid said.
Backed by Sequoia Capital, Sigmoid has offices in New York, San Francisco, Dallas, Lima, Amsterdam, and Bengaluru.
They leverage their expertise in open-source and cloud technologies to develop innovative frameworks catering to specific customer needs. Their unique approach has positively influenced the business performance of their Fortune 500 clients across CPG, retail, banking, financial services, manufacturing, and other verticals.
“The AI/ML market continues to grow year-on-year and alongside that, 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”, Anandamoy Roychowdhary, Principal, Sequoia Southeast Asia, said.
They are recognized among the world’s fastest growing and innovative tech companies, winning several awards and recognition like the Deloitte Technology Fast 500, Financial Times- The Americas’ Fastest Growing Companies, Inc. 5000, Great Place To Work- India’s Best Leaders in Times of Crisis, Data Breakthrough, Aegis Graham Bell, TiE50, NASSCOM Emerge 50, and others.
Sigmoid is a leading data engineering and AI solutions company that helps enterprises gain a competitive advantage with effective data-driven decision-making. Their team is strongly driven by the passion to unravel data complexities. They generate actionable insights and translate them into successful business strategies.