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Pune-Based IoT Startup Altizon Raises $4Mn In A Round Led By Wipro Ventures

[caption id="attachment_103421" align="aligncenter" width="700"]altizon Left to Right : COO – Yogesh Kulkarni, CTO – Ranjit Nair and CEO – Vinay Nathan[/caption]

Pune-based big data startup Altizon Systems Pvt Ltd has raised USD 4 million as part of a Series A funding round led by Wipro Ventures, the $100-million venture capital arm of India's third largest software exporter Wipro.

Other investors who also participated in this round include Lumis Partners, The Hive and Infuse Ventures.

The round is led by Wipro ventures with its investment of Rs.9.78 crore (around USD 1.43 million) in Altizon. This is Wipro Venture's first investment in an India-based startup in two years. Until now, it has taken stakes in four US-based start-ups.

Altizon plans to use the funds to scale up sales and marketing functions both in India and internationally.

Post this funding Altizon's big data platform will align with Wipro's IoT platform, Altizon said.

Altizon, which had a revenue of Rs.30 lakh in the financial year 2014-15, has developed a big data platform called Datonis that "allows organizations to build connected devices" and gain insights from device data.

Another Pune-based software product and technology company Persistent Systems Ltd took a 4% stake in Altizon in 2014.

Altizon claims to be the world's first Industrial Internet Platform company focussed on making Enterprises Internet of Things(IoT) ready. Altizon’s flagship product, the Datonis™ IoT Platform, helps enterprises build IoT products and solutions in weeks by providing device connectivity kits, a device management layer, a highly scalable, real-time, big-data analytics engine and alerting and monitoring services.

Wipro's $100 million corporate venture arm, overseen by Rishad Premji (son of chairman Azim Premji), now has a minority stakes in five start-ups. These include its $30 million investment in Opera Solutions, a New Jersey-based data analytics company, and a $5 million investment in Drivestream Inc., a Virginia, US-based cloud solutions start-up.

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