Wipro’s investment arm – Wipro Ventures, that has a $100 million under management, has picked up a minority stake in a big data startup – Altizon for around $1.9 million (Rs. 9.78 crore). This deal is part of the company’s ongoing $4 Million Series A round of funding.

In this Series A round, Altizon has raised over $4 million and the round was led by Wipro Ventures. Before this, the company had raised capital from Lumis Partners, The Hive and Infuse Ventures in the same round. Also, Rohit Bhayana, Managing Partner of Lumis Partners will join Altizon’s Board.

The deal is expected to close by the end of next week. With the new capital coming to the company, it is now planning to scale up its efforts in sales and marking in India as well as in the international markets.

Vinay Nathan, co-founder and CEO of Altizon, said,

This milestone and the commitment from our investors validates the belief in the growth story of Altizon as a leading innovator in the Industrial IoT space. With this development, we plan to take Altizon’s value proposition globally and continue to invest in our innovation edge around the Datonis platform.

The company was founded in April 2013 by Vinay Nathan, Yogesh Kulkarni and Ranjit Nair. It’s platform – Datonis is used by enterprises which are dealing in manufacturing and cleantech sectors for condition monitoring, predictive analytics, operations and for driving consumer insights.

The platform helps in building IoT product within weeks by providing device connectivity kits, a device management layer, a real-time, big-data analytics engine and alerting and monitoring services.

As per the company, Altizon’s big data platform will also be aligned with Wipro’s Internet of Things (IoT) platform.

Biplab Adhya, vice president and co-head of Wipro Ventures said,

We are seeing increasing adoption of IoT technologies across our customer base. The Altizon investment represents our commitment to investing in companies building disruptive technologies.

Last week, Infosys invested around $4 million in a US-based data startup Waterline Data Startup. The investment was made from the company’s VC fund – Infosys Innovation Fund. Both Wipro and Infosys are among the leading IT and Consultancy companies of India and both have set aside a sizable amount of fund to invest in startups and upcoming technologies.

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