Infosys co-founder Kris (Senapathy) Gopalakrishnan has invested an undisclosed amount in the Singapore and Chennai-based Big Data company Crayon Data.
Reportedly, the investment is part of Crayon Data’s Series A2 round of funding.
According to the company statement, the company will use the funds to enhance its core product, Maya, besides expanding its global footprint.
According to Crayon Data, they claim that their flagship product Maya — a personalisation engine — powers the largest credit card issuer in India, as well a global credit card leader in the US, among others. Their other product TasteGraph, reportedly maps 4 million restaurants globally, over a million hotels and around 500,000 attractions.
Vikram Rao, the CEO of Crayon Data said, “In the past year alone we have tied up with seven marquee clients… Maya currently knows the tastes of over 20 million customers worldwide. Our plan is to reach 100 million customers in a year, and reach the 1 billion mark in 2020.”
Speaking about the investment in Crayon Data, Gopalakrishnan said at a press conference:
“I see that the future of business will be the ability to leverage AI and big data to create ‘personal’ digital experiences for millions of customers. Crayon has a unique ability to bridge multiple worlds – analytics to digital, offline to online, internal, and external data. This makes them as critical to credit cards, travel and hospitality, and retail enterprises, as a Bloomberg terminal is to traders today.”
Crayon Data was founded in 2012 by Srikant Sastri and Suresh Shankar. The company works with software for banking, hospitality and FMCG industries. The company raised an undisclosed amount in a bridge round from Japanese diversified conglomerate Mitsui & Co, Ltd, three months after receiving Tata’s backing in November 2015. Earlier, they had raised $10 million in a Series A round led by Jungle Ventures and Spring Seeds in 2013.