Ratan Tata invests in Singapore big data start-up Crayon
25 November 2015
Ratan Tata has made an undisclosed personal investment in Singapore-based big data start-up Crayon Data, a portfolio company of venture capital firm Jungle Ventures.
Crayon has been rated as one of the ''most successful and innovative big data start-ups'' in 2014 and 2015, by global platforms such as TiEcon, CEBIT, IBM Watson, Intech50 and OrangeFab.
''We are excited and honoured to meet Ratan Tata and have our vision validated by him is an accolade in itself,'' Srikant Sastri, founder of Crayon Data, said.
The company was founded in 2012 by IIM Calcutta graduates Srikant Sastri and Suresh Shankar.
Tata, chairman Emeritus of Tata Group, had recently joined Jungle Ventures as a special advisor.
Crayon has previously raised about S$10 million in seed and Series A funding from angel institutional investors like Jungle Ventures and Spring Seeds.
The company employs 100 people and has offices across New York, Dubai, Chennai, Singapore and London.
Tata, who retired as the chairman of Tata group of companies, has been investing in startups ranging from e-commerce to clean-tech sectors.
As of date, he has invested in 11 start-ups (including Crayon Data).
In November, Ratan Tata invested an undisclosed amount in Sabse Technologies, a Mumbai–based global Wi-Fi carrier, first started by Hotmail founder Sabeer Bhatia.
Tata invested in Boston-based Altaeros Energies, Snapdeal, Bluestone, Urban Ladder and Swasth India in 2014, and in CarDekho, Grameen Capital, One97 Communications (Paytm), Xiaomi and Kaaryah in 2005.