Datazip, a data engineering startup, has raised $1 million in a seed funding round led by Equirus InnovateX Fund (EIF). Out of the total amount, EIF contributed Rs 6 crore. This investment marks the second one from EIF’s $30 million tech-focused venture capital fund, demonstrating their confidence in emerging data technologies.
Founders of Datazip
Datazip was co-founded by a group of experienced professionals with deep expertise in technology and data engineering:
- Sandeep Devarapalli, an alumnus of IIST and IIM Ahmedabad, is a former space scientist at ISRO and a seasoned tech entrepreneur.
- Shubham Baldava, an NIT Jamshedpur graduate, has over six years of experience working with three unicorn startups.
- Rohan Khameshra, an IIT Kharagpur alumnus, was a founding member of the data teams at Rapido and Khatabook.
Together, the founders are working to build a platform that aims to increase the productivity of data engineers by tenfold.
What Does Datazip Do?
Datazip is building a composable lakehouse platform that makes data engineers significantly more productive. Their platform helps companies manage and utilize their data assets more efficiently. With advanced tools, Datazip enables businesses to optimize data workflows, gain real-time insights, and stay competitive in a fast-changing market.
In just 12 months, Datazip has achieved product-market fit and already serves 15 clients. The company plans to grow significantly over the next year, aiming to increase its client base tenfold.
Data Lakehouse Market on the Rise
The data lakehouse platform market is currently valued at $11.1 billion and is expected to grow at a compound annual growth rate (CAGR) of 22.9% over the next decade. By 2033, the market is projected to reach $66.6 billion, driven by increasing demand for data management solutions and the growth of AI and machine learning applications. Datazip is well-positioned to take advantage of this expanding market.
Leadership Perspectives
Sunder Nookala, General Partner at Equirus InnovateX Fund, expressed excitement about the investment: “We are thrilled to partner with Datazip. Their deep knowledge of data engineering challenges, combined with a clear vision, convinced us that they are building a platform that will be indispensable to data-driven businesses.”
Sandeep Devarapalli, Co-founder and CEO of Datazip, added, “With the support of EIF, we aim to empower data engineers to maximize their productivity. This investment will help us continue creating cutting-edge data solutions for businesses.”
Rohan Khameshra, Co-founder and CPO, concluded, “We are grateful for EIF’s confidence in our vision and look forward to accelerating our mission to provide essential tools for data engineers in the AI-driven era.”
