Sigmoid Grabs $12 Million Funding

As part of its newest investment round from Sequoia Capital India, data engineering and artificial intelligence (AI) solutions provider Sigmoid has raised $12 million in a mix of primary and secondary funding.

Sequoia has invested $19.3 million in Sigmoid in the latest round. The funds will be used by the startup to expand its delivery centers and cater to new industries, as well as to evolve its market offerings.

Sigmoid, founded in 2013 by IIT Kharagpur alumni Lokesh Anand, Mayur Rustagi, and Rahul Kumar Singh, provides data engineering and artificial intelligence consulting to assist businesses obtain a competitive advantage through effective data-driven decision-making.

The startup’s solutions are used in industries such as FMCG and investment banking to increase campaign optimization and return on marketing investments, as well as to more quickly identify regulatory compliance issues during trade surveillance.

Sigmoid currently employs over 500 data professionals who specialize in data engineering, cloud data modernization, AI, and data operations. 80 percent of the workforce is based in India, and the majority of its revenue is generated by US clients.