Big Data IoT startup Altizon gets seed funding from The Hive, Infuse & Persistent
Altizon Systems Pvt Ltd, a Big Data-focused Internet of Things (IoT) startup based out of Pune, has closed an undisclosed amount in seed round of funding led by The Hive India, a Big Data-focused early-stage fund floated last year by Amit and Arihant Patni—the sons of one of the co-founders of Patni Computer Systems which was acquired by iGate in 2011.
The round also saw participation from Infuse Ventures, the venture investment arm of IIM Ahmedabad, besides Persistent Ventures, which came in with $100,000 investment in the firm. Persistent Ventures is an early stage investment fund of Pune-based Persistent Systems Ltd.
The funds will be used to expand its India and US operations, besides scaling its core team.
"We are not allowed to disclose the deal size," Vinay Nathan, co-founder and CEO of Altizon told Techcircle.in. "We are mainly looking at three goals -- one is to continue to push our India growth story by expanding and building out a stable business, secondly, we are looking at expanding our footprints in the US market, and third, we will be rolling out a self-service platform for clients," he added.
Altizon was founded last year by Nathan, Ranjit Nair and Yogesh Kulkarni. Nathan holds a MS Degree in Computer Science from the University of Southern California and had earlier worked at Persistent as VP Sales (APAC and Middle East). Nair had earlier worked as a software development manager at Amazon, while Kulkarni was previously director (cloud) at BMC Software. Both Nair and Kulkarni are alumni of University of Pune.
Altizon is focused on the industrial internet, which offers a scalable platform to manufacturers to build intelligent connected devices and manage them from the cloud. The startup has a set of sensor data appliances and software development kits (SDKs) that drive data from sensors in industrial equipment to its flagship Datonis platform, which provides a device and performs large-scale data ingestion and aggregation utilising Big Data technologies.
The firm claims that it currently serves half-a-dozen customers operating in the auto components and original equipment manufacturing industries.
"The Datonis platform is driving value to our customers by providing real-time operational efficiency, remote monitoring predictive maintenance and consumer insights for their high-value assets. This investment is a big validation of our story and will help us in our next phase of growth," said Kulkarni.
"At The Hive, we believe in launching data-driven businesses that cater to the global market. IoT will be front and center of the next wave of data-driven applications. Altizon is that kind of company with the right products, technical team and experience to deliver on this vision and we are committed to advance their story," said Arihant Patni, managing director at The Hive India.
Last month, Techcircle.in had reported that The Hive India was close to investing in an IoT-enabled Big Data startup based out of Pune.