Good news for the Indian startup industry. Cambridge Technology Enterprises (CTE), which is an IT firm focused on the convergence of big data and cloud has recently launched Cambridge Innovations (CI), an investment hub.
Cambridge Innovations will work towards helping early stage startups in India and the US by providing them with technical knowledge, capital and people whenever required. Further, it will provide the startups with upto 25 per cent of seed capital in order to launch themselves which in turn will help them in securing a better Series A round of funding.
The investment hub will be led by the powerful two, Aashish Kalra, chairman and director of CTE and Sundar Subramaniam, chairman IBCC and Alexis Kopikis, partner at CI.
Having offices in Mumbai, Bangalore, Chennai and Hyderabad, CTE mainly works on the convergence of cloud application development and management, big data, data warehousing, analytics on the cloud and business intelligence (BI).
The company plans to double its workforce from the current 300 over the period of next one year. The company is currently going great guns as it had a growth of 100% in revenues in June quarter this year as compared to the numbers in the same quarter last year.
“We are excited to launch Cambridge Innovations and partner with ambitious entrepreneurs who understand the transformative potential of big data and cloud on businesses and communities across the world.” said Kalra in a statement an online website.
He further added, “Cambridge Innovations understands the challenges facing entrepreneurs today; a faster-time to market, the ability to scale, the right product development team and the necessary capital are the difference between long-term success or failure. CI will meet these needs and remain committed to each start-up.”