Home >Companies >Germin8 raises $3 million venture funding from Kalaari Capital

Bangalore: Big data analytics start-up Germin8 has raised $3 million in series-A funding from Kalaari Capital and will use the funds mostly to expand into international markets.

Germin8 also plans to use the funds to step up spending on sales and marketing activities to boost its brand, the company said in a statement on Friday. A portion of the funds will also be used for research and new product development.

In 2012, Mumbai-based Germin8 launched its first analytics product, which basically helps companies make decisions by analysing patterns and trends by tracking social media conversations of stakeholders and customers, as well as private company-owned chatrooms and emails.

Big Data refers to a collection of data sets or chunks of information too large and complex to be processed using traditional software tools. By applying big data solutions, enterprises are looking to sift through massive amounts of information about users, analyze usage patterns on a real-time basis, and prepare personalized campaigns that can potentially increase revenue per user.

“Today no company can afford to underestimate the impact of social media on its business and Germin8 allows companies to monitor, analyse and take the right business decisions in a timely way," said Kumar Shiralagi, managing director of Kalaari Capital, which mostly invests in early-stage technology companies.

Germin8 said that its current list of customers include MTV, Marico, ICICI Prudential, Godrej Industries, Johnson and Johnson and Asian Paints.

“With this investment by Kalaari Capital, we hope to make our technology available to companies outside India as well, even as we aim to consolidate our position as a significant analytics player in the Indian market," said Ranjit Nair, CEO of Germin8.

A number of new-age early-stage technology firms from India have plunged into the lucrative Big Data analytics market, which experts say will be one of the key factors to power the next phase of growth for technology firms.

Other notable Indian analytics startups to have come up over the past few years include DataWeave, Qubole Inc. and Formcept.

Technology researcher Gartner Inc estimates that the Big Data analytics space will drive about $232 billion of information technology (IT) spending by 2016.

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