Crayon Data, a data analytics company based in Singapore, has closed INR7.3 crore in a funding round led by Jungle Ventures. Singaporean state-owned investor Spring Seeds Capital also contributed to the financing, according to The Economic Times.
Co-founder Suresh Shankar said: "We will use the funds to scale up technology and expand our operations in markets such as United States, United Kingdom, Middle East and China."
Founded in 2012 by two Indian Institute of Management graduates, Crayon has now developed a platform that searches for hidden patterns and correlations from a big pile of information, the report stated.
Shankar explained: "For instance, when a customer walks into the hotel, the staff already knows his or her choices and offers a personalized experience. It is no more about loyalty points that the customer has, but knowing the guest's tastes."
Crayon is the sole Asian data firm that became a finalist in the CeBIT digital innovation competition which will be held this March in Germany, The Economic Times reported.
The latest round brings Crayon's total raised capital to INR27 crore, the report said.
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