Crayon Data raises more than 1.75 mil SGD in second round of funding

BANGALORE, INDIA: Crayon Data, a Singapore-based big data start-up with a key development centre in Chennai, announced that it has raised in excess of 1.75 million Singapore Dollars (SGD) in its second round of fund raising since the initial round of funding at the end of 2012.
Suresh Shankar, founder of Crayon Data said: “The success of this round reflects a valuation increase of 75 percent from the previous round of funding, which was concluded at the end of 2012. I believe that what we have achieved in this round of funding is a testament to the great efforts of our team.
This effort is showing investors that we are building up a great business with a dependable source of revenue. The SimplerChoice engine we are developing out of Singapore and Chennai is already attracting a great deal of excitement in the marketplace, among both our B2B and B2C clients, and we believe it will be a significantly disruptive solution when fully ready.”
Crayon Data, which was established at the end of 2012 has been busy establishing a global presence in the market for Big Data, including developing pilot projects with major brand name clients.