Sigmoid, a startup that provides data engineering and AI solutions, announced it has raised $12 million in funding in a mix of primary and secondary funding, as part of its latest funding round from Sequoia Capital India.
The startup will utilise the funds to evolve its market offerings, expand delivery centers and cater to new industries.
Founded in 2013 by IIT Kharagpur alumni Lokesh Anand, Mayur Rustagi and Rahul Kumar Singh, Sigmoid provides data engineering and AI consulting to help enterprises gain competitive advantage through effective data-driven decision-making.
“The last 12 months have been an inflection point in our growth. We are happy to see Sequoia Capital India continue to believe in us. This will help us rapidly expand our capabilities in terms of solutions and talent to meet the growing customer demand,” said Anand, chief executive officer at Sigmoid.
“The AI and machine learning (ML) market is growing year-on-year and so is the need for solutions to help enterprises adopt and harness this power. The team at Sigmoid, which stands out for its data and AI engineering excellence, is well-positioned to capture this opportunity,” said Anandamoy Roychowdhary, principal, Sequoia Southeast Asia.
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