Enterprise analytics startup Pragmatix raises $2.4M from SIDBI
Summary
"The valuation is respectful of the credentials of the founders, the intellectual property they have built, the traction that Pragmatix has and will have in future and the global horizons ahead of it," said Anant Sarma, CEO, SIDBI. IOF was floated in 2011 to provide growth capital to micro, small and medium enterprises operating in emerging sectors such as light engineering, cleantech, agro-based industries, logistics, infrastructure, educational services and IT/ITES. Founded in 2011 by former Citibank employees Alok Rastogi, V Dinesh, Ashish Vora and Ramesh Lakshminarayanan, Pragmatix is a business intelligence and analytics firm. A chartered accountant by qualification, Vora spent over a decade at Citibank in diverse roles within the corporate and investment banking unit. "We aim to configure a solution customised for each client based on modular, IP-centered data models and software blocks, cutting down time required for deployment," said Lakshminarayanan, co-founder of Pragmatix.