Equirus InnovateX Fund Leads 1 Mn USD Seed Round for Datazip

Equirus InnovateX Fund (EIF) has made headlines with its recent investment in Datazip, a trailblazing data engineering startup. Leading a $1 million (approximately Rs.8.4 Cr) seed funding round, EIF’s contribution of Rs 6 crore highlights their commitment to supporting innovative tech solutions. This investment is the second from EIF’s $30 million tech-focused venture capital fund, aimed at fueling growth in the fast-evolving tech space.

Related: Mukesh Bansal’s Nurix AI Raises $27.5 Mn from General Catalyst, Accel and Others

Datazip was founded by a team of industry veterans with impressive backgrounds. The co-founders include:

• Sandeep Devarapalli, an IIST and IIM Ahmedabad alumnus, and a former Space Scientist at ISRO, has founded two successful tech companies before Datazip.
• Shubham Baldava, an NIT Jamshedpur alumnus, brings over six years of experience working with three unicorn companies.
• Rohan Khameshra, an IIT Kharagpur graduate, played a key role in founding data teams at both Rapido and Khatabook.

This dynamic team is focused on developing composable lakehouse platforms designed to enhance the productivity of data engineers by 10x.

According to Shubham Baldava, the Co-founder and CTO of Datazip, “The fundraise will enable us to innovate and deliver world-class data engineering and analytics products from India.”

Datazip specializes in building composable lakehouse platforms aimed at improving data engineering productivity by tenfold. With their cutting-edge tools, Datazip empowers data engineers to fully unlock the potential of their data. By optimizing data workflows and providing real-time insights, the startup helps businesses stay ahead of their competition in a rapidly evolving market.

In just 12 months, Datazip has achieved product-market fit and successfully onboarded 15 clients. The company aims to expand rapidly, with a goal to grow tenfold in the coming year.

The global market for data lakehouse platforms is experiencing rapid growth. Currently valued at $11.1 billion, the market is projected to grow at a compound annual growth rate (CAGR) of 22.9% over the next decade. By 2033, the market is expected to reach $66.6 billion, driven by the increasing demand for efficient data management solutions and advancements in AI and machine learning.

With Datazip’s focus on empowering data engineers, the company is well-positioned to capture a significant portion of this expanding market. Their innovative platform not only addresses the challenges faced by data engineers but also positions Datazip as a key player in the era of open data.

Sunder Nookala, General Partner at Equirus InnovateX Fund, shared his excitement about the investment, stating, “We are thrilled to partner with Datazip in their mission to make data engineers 10x more productive. Their deep understanding of data engineering challenges and their clear vision attracted us to the team. We believe their platform will become indispensable for any data-driven business.”

Sandeep Devarapalli, Co-founder and CEO of Datazip, expressed his gratitude for the partnership, noting, “We are excited to join forces with Equirus InnovateX Fund. As more companies adopt open data formats and cutting-edge technologies like Apache Iceberg, Datazip is poised to lead this transformational wave. Our goal is to enhance the productivity of data engineers, and this investment is crucial in achieving that mission.”