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Equirus InnovateX Fund leads $1 million seed round in data engineering startup, Datazip
Category: Business News, Posted on: 11/10/2024 , Posted By: Ishika Agarwal
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Datazip is co-founded by a stellar team of industry experts. Sandeep Devarapalli is an IIST and IIM Ahmedabad alumnus, and former Space Scientist at ISRO, who is a seasoned 2x tech founder; Shubham Baldava, an NIT Jamshedpur alumnus with over 6 years of experience working with three unicorns; and Rohan Khameshra, an IIT Kharagpur graduate and former founding data team member at Rapido and Khatabook.

Equirus InnovateX Fund (EIF) has announced its latest investment in Datazip, a cutting-edge data engineering startup, leading a $1 million seed funding round with a substantial contribution of Rs 6 crore. Together, the founders are on a mission to build composable lakehouse platforms that increase data engineers' productivity by 10x.Shubham Baldava, Co-founder and CTO of Datazip, said, “The fundraise will help us create and innovate world-class data engineering and analytics products in India.”Datazip is a data engineering startup building a composable lakehouse platform that makes data engineers 10x more productive. The startup is on a mission to empower data engineers to unlock the full potential of their data assets. Its suite of tools addresses the evolving needs of the data ecosystem, enabling companies to optimize their data workflows, gain real-time insights, and stay ahead of the competition. In just 12 months, Datazip has achieved product-market fit and onboarded 15 clients. It has plans to grow tenfold over the next year. The data lakehouse platform market, which is currently valued at $11.1 billion, is projected to grow at an impressive CAGR of 22.9% from 2023 to 2033, expanding from $8.9 billion to $66.6 billion. With the increasing demand for efficient data management solutions and the growth of AI and machine learning applications, Datazip is well-positioned to capture a significant share of this burgeoning market.

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