Equirus InnovateX Fund leads $1 Mn round in data engineering startup Datazip

Datazip, a Bengaluru-based data engineering startup, has raised $1 million in a seed funding round, with Equirus InnovateX Fund contributing Rs 6 crore. 

This investment marks EIF's second deployment from its $30 million tech-focused venture capital fund. Datazip had previously secured $202K from Anicut Capital and other investors.

The new funding will be utilized to develop and innovate data engineering and analytics products in India. 

Co-founded in 2022 by Sandeep Devarapalli, Shubham Baldava, and Rohan Khameshra, Datazip is focused on building a composable lakehouse platform designed to enhance data engineers' productivity by tenfold. The platform aims to help organizations optimize their data workflows and gain real-time insights, allowing them to stay competitive in a rapidly evolving market.

The data lakehouse platform market is currently valued at $11.1 billion and is projected to grow at a remarkable CAGR of 22.9% from 2023 to 2033, potentially reaching $66.6 billion. Datazip has already onboarded 15 clients and is focused on scaling its operations significantly over the next year, aiming to transform how businesses manage large datasets in real-time.