Sigmoid’s latest round was a mixture of both primary and secondary funding
Sequoia Capital India infused a sum of $12 million into Sigmoid, a leading AI solutions startup. With the freshly raised money, Sigmoid plans to enter newer domains with evolved offerings while simultaneously setting up more delivery centres.
Principal at Sequoia Southeast Asia, Anandamoy Roychowdhary said, “The AI and machine learning (ML) market is growing year-on-year and so is the need for solutions to help enterprises adopt and harness this power. The team at Sigmoid, which stands out for its data and AI engineering excellence, is well-positioned to capture this opportunity.”
Sigmoid CEO, Lokesh Anand commented: “The last 12 months have been an inflection point in our growth. We are happy to see Sequoia Capital India continue to believe in us. This will help us rapidly expand our capabilities in terms of solutions and talent to meet the growing customer demand.”
Lokesh Anand, Mayur Rustagi and Rahul Kumar Singh — all IIT Kharagpur alumni — jointly started the company in 2013. Sigmoid encourages data-driven decision-making in enterprises by providing them with AI consulting, cloud data modernisation and data engineering. While the majority of its 500-odd employees are located in India, the company earns most of its revenue from the US.