Jenina Ibañez · · 1 min readIndian data analytics startup raises $20m in series B round
Synaptic, an India-based data analytics startup, has raised US$20 million in a series B funding round led by Valor Equity Partners.
Synaptic founders Anurag Abbott and Rohit Razdan | Photo credit: Adfactors
Synaptic’s data and insights platform is used by venture capital firms and hedge funds to track companies, perform market research, and monitor portfolios.
Its machine learning-powered platform draws personalized insights from over 100 company performance metrics including web traffic, product reviews, and employee data. Synaptic’s tools were first developed by the data and analytics team of technology investment company Vy Capital before being spun out as an independent company in 2016.
The company will use the fresh funds to invest in product development, grow its partnerships with data vendors, and expand its go-to-market teams in global financial hubs.
“With the series B funding, we will massively increase our reach and bring our capabilities to more markets and geographies,” says Synaptic co-founder Anurag Abbott.
Previously, Synaptic raised US$6 million in seed and series A funding from Ribbit Capital, Felicis Ventures, and Vy Capital Management.
See also: How India’s tech titans square up against Chinese peers
Editing by Deepti Sri and Joy Tirkey
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