Datazip, a Bengaluru-based data engineering startup, has secured $1 million in a seed funding round, with Equirus InnovateX Fund (EIF) contributing Rs 6 crore. This marks EIF’s second investment from its $30 million tech-focused venture capital fund. Earlier, Datazip raised $202K from Anicut Capital and other investors.
The newly raised funds will be directed towards the development and innovation of data engineering and analytics products in India. Datazip, founded in 2022 by Sandeep Devarapalli, Shubham Baldava, and Rohan Khameshra, is building a composable lakehouse platform designed to enhance data engineers’ productivity by tenfold. This platform helps organizations optimize their data workflows and extract real-time insights, enabling them to stay competitive in a rapidly evolving market.
The global data lakehouse platform market is currently valued at $11.1 billion and is expected to grow at a CAGR of 22.9% from 2023 to 2033, potentially reaching $66.6 billion. Datazip has already onboarded 15 clients and plans to scale its operations significantly over the next year, aiming to transform how businesses manage large datasets in real-time.