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Israel's Coralogix to invest over US$ 30 million in India in 5 years

IBEF:  August 14, 2020

Israel-based Coralogix, provider of machine-learning based log analytics and monitoring solution, announced a strategic expansion into India with a commitment to invest over US$ 30 million in the next 5 years.

Under this expansion plans, the company plans to set up a new Amazon Web Services (AWS) in Mumbai region to help companies with regional server support, data storage capabilities, and compliance with the upcoming security laws.

“By localizing data, Coralogix will help customers meet compliance requirements for India’s new data privacy laws and dramatically improve service performance," the company said in a statement.

It is also introducing an onsite team to provide sales and customer success support to India-based companies.

“With today’s strategic move, we are proactively addressing new Indian data privacy laws scheduled to take effect in 2021 by providing Coralogix customers with a solution well ahead of most of our competitors," said Mr Ariel Assaraf, CEO and cofounder, Coralogix. “When the new laws are enacted, we anticipate a profound sense of urgency for companies who fall under domestic compliance rules to store their data locally and avoid being penalized for non-compliance."

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.