IDGVI News: Portfolio News

Hevo Data gets $1 mn to live the American dream

J Vignesh | ET Bureau, November 6, 2017

The money will be used to expand operations in the US and hire a team.

BENGALURU: Hevo Data, a cloud-based data-integration platform, has raised $1 million in a seed funding round led by IDG Ventures India.

The money will be used to expand operations in the US and hire a team. Hevo's integration platform allows data scientists and engineers to focus on doing high-impact work, such as building core artificial intelligence (AI) and machine learning models, rather than spending time on collecting, cleaning and enriching the data. “There is a clear need in the market for a product that serves the needs of the teams building data-driven applications. This platform removes all the effort,“ said Manish Jethani, CEO of Hevo.

San Francisco and Bengaluru-based Hevo Data, was founded in 2016 by Jethani and Sourabh Agarwal. Jethani and Agarwal had earlier built food delivery app SpoonJoy, which was acquired by hyperlocal grocery and fresh food delivery platform Grofers, in 2015.

Hevo leverages machine learning to understand the source model from various kind of data sources such as databases, cloud applications, sensor data (IoT) and clickstream data. This ensures most of the time-consuming activities are taken care by the platform.

Its customers include food delivery provider Swiggy and integrated healthcare platform, among others.

"Today, enterprises are investing heavily in technology to strengthen and empower their data teams to gain the competitive advantage in their space.We invested in Hevo Data because we saw a strong team building a product that fills a critical gap in the market," said Venkatesh Peddi, Executive Director, IDG Ventures India.