LOGIQ, a US and Bengaluru-based observability platform for IT administrators and DevOps teams, on Wednesday announced that it has raised $1.8 million in its first institutional seed funding round, led by Leo Capital.
The funding will be used by the startup to expand its AI/ML capabilities and onboard more customers. LOGIQ claims that it solves the ubiquitous problem enterprises are faced with when handling the variety and volume of data in the organisation, while running their IT infrastructure and applications.
“We started with the goal of helping enterprises transition from managing their data in silos to a more unified manner in which they can harness their data. With LOGIQ, we want to empower developers and administrators in keeping their infrastructure and applications always running,” said Ranjan Parthasarathy, CEO and Co-founder at LOGIQ.
“The funding raised will enable us to widen our reach and also enhance our AI/ML capabilities,” Ranjan added.
Ranjan Parthasarathy, CEO and Co-founder at LOGIQ
According to an IDC survey, half of all organisations process more than 100GB of log data in different formats every day, and the numbers continue to rise. There is such a flood of data available from APIs, databases, data lakes, etc. The lack of a unified platform that can converge this data has long been a pain point for IT practitioners, DevOps users, and developers alike. LOGIQ said its mission is to make all IT data accessible and analysable.
By unifying data types, such as logs, metrics, databases, and APIs, LOGIQ's observability platform enables them to harness the power of machine data analytics for applications and infrastructure in a single platform with one-click simplicity, the startup said. Users can aggregate log data, gather performance metrics, access API's and connect databases such as Elastic, Mongo, Postgres, Druid, and Mysql for real-time visibility into the health of their IT infrastructure and application environments, it added.
According to Co-founder Tito George,
“Data is the new oil across enterprises. However, there is also a need for a solution that helps them manage this data efficiently without hampering their operational efficiency or infrastructure. This is what LOGIQ has set out to do with its products and offerings. This funding will help us take our solutions to more industry stakeholders.”
Founded in 2019, LOGIQ can be hosted as a self-service or managed SaaS, claims to be providing maximum flexibility to the user. Some of its USPs include unified view, predictable pricing, one-click setup, and zero tax storage management tax.
Commenting on the investment, Rajul Garg, Managing Partner at Leo Capital, said,
“There is a huge amount of data being generated across all sectors today. Consequently, the need of the hour is a platform like LOGIQ that can help enterprises organise, manage, and categorise this data without affecting their processes and infrastructure.”
Edited by Kanishk Singh
Link : https://yourstory.com/2020/12/funding-alert-observability-platform-logiq-seed-round-leo-capital
Author :- Sujata Sangwan ( )
December 16, 2020 at 12:45PM
YourStory