Big Data start-up Corporate360 in talks to acquire firm
- Livemint" target="_blank">Livemint
- August 19, 2014
Mumbai: Corporate360, an analytics services company being incubated at Startup Village in Kochi, said on Monday it is in “advanced stages of discussions” with venture capitalists to raise capital, and “in the final stages of acquiring a Big Data software company in India”.
The start-up, founded in Kerala in 2012, is also looking to nearly double its staff strength to 50 by the end of this year.
Corporate360 offers low-cost data applications and software to companies that enables them to gather business-related information, analyze trends and consumer behaviour to implement marketing campaigns. “The data is churned out by the use of various regression and statistical models,” Pranav Suresh, chief operating officer at Startup Village, said over the phone.
Varun Chandran, co-founder and chief executive of Corporate360, said in a statement that the company has patents pending on four innovative software products in the space of data analytics.
The company is currently self-funded, and is targeting $10 million in revenue by 2017, the statement added.
The Big Data market is hotting up.
In a 5 September report, software lobby body Nasscom and Crisil Global Research and Analytics forecast the global Big Data market opportunity to touch $25 billion by 2015 from $5.3 billion in 2011, and the Indian industry to grow five-fold from the current level of $200 million to touch $1 billion by 2015.
A 27 June report by software lobby body Nasscom and Blueocean Market Intelligence pegged the Indian analytics market to cross the $2 billion mark by fiscal 2018.
On 13 August, The Economic Times reported that analytics services provider Mu Sigma Inc is targeting $250 million in revenue in the current fiscal. The company, the report added, could raise up to $500 million and may be valued at $6-7 billion.
In January, Mint reported that MuSigma crossed $100 million in revenue.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Partners
