A cloud-based data-integration platform Hevo Data has raised a total sum of $1 million in a seed funding round led by IDG Ventures India. The company will use the money to expand its operations in the US and to hire a team. Hevo’s integration platform allows data scientists and engineers to build core artificial intelligence (AI) and machine learning models, rather than spending time on collecting, cleaning and enriching the data.
Hevo Data was founded in 2016 by Jethani and Sourabh Agarwal, who had earlier built food delivery app SpoonJoy, which was acquired by Grofers, in 2015.
Hevo leverages machine learning to understand the source model from 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.
Hevo’s customers include food delivery provider Swiggy and integrated healthcare platform Cure.fit, among others.
Heavy Investment in Technology
“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.