IndiQus Technologies, an IT consulting and services company has acquired Delhi-based data analytics startup Amicus Technologies, in an all-stock deal. Notably, Amicus was among 10 Promising Delhi-Based startups launched in 2015, by IndianWeb2.
Amicus CEO, Aayush Srivastava, will join IndiQus as Head of Product & Marketing, alongwith Software Engineer, Akashdeep Singh Lamba. Two other Amicus founders – Nishchal Dua and Nikhil Parmar, took an exit for an undisclosed amount.
Founded in 2015, 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 ~5Cr 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.”
Commenting on the acquisition, IndiQus CTO K B Shiv Kumar said “Combining data analytics with cloud computing creates a 23Bil USD worldwide market opportunity. We are excited to welcome team Amicus in helping us create Version 2.0 of IndiQus.”
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.”
Established in 2013 in New Delhi, Indiqus is one of India’s emerging Cloud Infrastructure integrator. The cloud infrastructure industry is 2.3B USD in India currently, as per a report by Avendus Capital.