TLDR:
- e6data, a data intelligence startup, secured a $10 million Series A funding round led by Accel Partners.
- The company aims to help businesses reduce costs associated with analyzing their data and maximize ROI.
Article Summary:
Venture capital firm Accel Partners has invested $10 million in Series A funding for data intelligence startup e6data. This investment aims to address the challenges businesses face with analyzing and utilizing their data effectively. With the rapid increase in data volume, enterprises are finding it costly to harness the full potential of their data for business decision-making.
The total addressable market for data and AI solutions is projected to reach $230 billion by 2025, with majority of CXOs planning to increase their spending on data and AI capabilities. Vishnu Vasanth, Co-founder and CEO of e6data, highlights the importance of data intelligence platforms in the current IT landscape, comparing it to cloud spend for operational systems.
e6data aims to solve the challenges faced by enterprises in realizing the full potential of data and AI through their new “compute engine” architecture. This architecture allows for amplified ROI on existing platforms and architectures, along with addressing issues related to ecosystem lock-in, data movement, application migrations, and downtime.
The company plans to expand its Lighthouse Customer Programme, offering a managed service solution to enterprise customers for their most critical data intelligence use cases. With a team of experienced professionals in the field and partnerships with Fortune 500 enterprises, e6data is poised to make a significant impact in the data intelligence sector.
