Home >Companies >Qubole raises $13 million from Norwest Venture Partners

Mumbai: Qubole Inc., a US-based big data company, raised $13 million from Norwest Venture Partners, a global venture capital firm, on Thursday.

“Qubole Raises $13M For Its Big Data-As-A-Service Platform," Qubole tweeted on its official twitter handle @qubole.

According to multiple media reports the company had raised its first (Series A) round of funding worth $7 million from Light Speed Ventures, Charles River Ventures, Anand Rajaraman and Venky Harinarayan in 2013. This is thought to be the second (Series B) round of funding.

The company was founded in 2011 by IIT Delhi alumnus Ashish Thusoo and Joydeep Sen Sarma. It provides and develops cloud data solutions that help in storing and managing data to create insights. Companies like Amazon Web Services Inc. and Google Cloud Platform (Google Inc.), have partnered with the company. Customers include Pinterest Inc., PubMatic Inc. and Komli Media.

The company was incubated by Microsoft Accelerator in 2013 and the founders had previously developed Apache Hive and Facebook Inc.’s big data infrastructure.

The Big Data market is heating up.

In a 5 September report, software lobby 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.

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