Indian Cloud Infrastructure integrator,
IndiQus Technologies has completed the acquisition of Delhi-based data analytics startup
Amicus Technologies, in an all-stock deal. Amicus CEO, Aayush Srivastava, will join IndiQus as Head of Product & Marketing, along with Software Engineer,
Akashdeep Singh Lamba. Two other Amicus founders took an exit for an undisclosed amount.
Amicus was building an analytics engine which helps consumers make smarter decisions, by predicting the risk-weighted cost of the product or service.
In context of the cloud infrastructure market, IndiQus’ CEO
Sunando Bhattacharya noted, “We have been successfully addressing private, hybrid and public cloud projects in South Asia for marquee clients like Oxigen, Meritnation, Sri Lanka Telecom for the last 3 years, hitting a revenue of around 5 crore for FY14–15. As we are soon going to launch our Cloud Management software, we feel that data analytics would play an integral role in growing cloud businesses and this acquisition would help us build a huge differentiator in our software.”
The cloud infrastructure industry is $2.3 billion in India currently, as per a report by Avendus Capital.
Aayush Srivastava, the CEO & Founder of Amicus comments, “IndiQus gives us an opportunity to keep working on improving user experience using data-driven decisions making. Our experience in consumer internet space will help in creating better platform and network effects, as IndiQus prepares to enter the growth stage.”
Amicus Technologies was
incubated at Startup Tunnel, as a part of its first cohort, where
Aditya Dev Sood made one of his initial investments, as a pre-seed round in April 2014 followed by another round of investment from Startup Tunnel in November 2015. Aditya, will also have an equity stake and join the Advisory Board of IndiQus.
Talking about the acquisition, Aditya states, “I am very pleased with this acquisition as Data Analytics has a far deeper play in the B2B space and I am sure that IndiQus would put the developed technology to great use in their product.”
