Altizon Systems Pvt Ltd, a Big Data-focused Internet of Things (IoT) startup based out of Pune, has closed an undisclosed amount in seed round of funding led by The Hive India, a Big Data-focused early-stage fund floated last year by Amit and Arihant Patni—the sons of one of the co-founders of Patni Computer Systems which was acquired by iGate in 2011.
The round also saw participation from Infuse Ventures, the venture investment arm of IIM Ahmedabad, besides Persistent Ventures, which came in with $100,000 investment in the firm. Persistent Ventures is an early stage investment fund of Pune-based Persistent Systems Ltd.
The funds will be used to expand its India and US operations, besides scaling its core team.
“We are not allowed to disclose the deal size,” Vinay Nathan, co-founder and CEO of Altizon told Techcircle.in. “We are mainly looking at three goals — one is to continue to push our India growth story by expanding and building out a stable business, secondly, we are looking at expanding our footprints in the US market, and third, we will be rolling out a self-service platform for clients,” he added.