Enterprise software company e6data has secured a USD 10 million Series A funding round led by Accel and with participation from Beenext. e6data aims to enter the data and AI solutions market, which is projected to reach USD 230 billion in 2025.

According to Vishnu Vasanth, Co-founder and CEO of e6data, the rapid growth has positioned data intelligence platforms as the second largest IT spending category, trailing only cloud spending for operational systems and application infrastructure.

Accel Partner Shekhar Kirani pointed out that enterprises are experiencing a surge in analytics use cases with GenAl. They anticipate every individual in an organisation becoming a power data consumer in the coming years, leading to increased demand for analytics and computing infrastructure. They believe e6data is well-positioned to capitalise on and drive this trend.

To address expensive AI solutions, e6data has introduced an advanced compute engine for data intelligence platforms to enhance ROI on existing infrastructures. This operation does not necessitate data movement, application migration, or downtime.

The company stated in a press release that e6data has already secured Fortune 500 enterprises and high-growth companies as clients and anticipates significant growth due to the increasing demand for compute-intensive workloads.

e6data, whose clients include Freshworks and Chargebee, is also expanding its Design Partner Programme to offer solutions as a managed service with full production support.

Tired of guessing stocks to trade in daily?
Unicorn Signals empowers you with powerful tools like daily stock scans for Intraday, Swing & Investing, Market Predictions and much more. Download the Unicorn Signals app today and take control of your investments!