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Dragonfly plans to raise $25 million in Series A funding

The one-year-old, privately-funded company has centres in Hyderabad and Visakhapatnam with an employee strength of 18 and seven respectively

BS Reporter  |  Hyderabad 

Dragonfly Data Factory, a US-based startup which is developing a 'Data Factory' to build cloud-enabled, software-defined platform and products to harness the value in big data, is planning to raise anywhere between $20 million and $25 million in a Series A funding by June-July this year, according to its founder and chief executive officer Ram Pottula.

"We propose to utilise the funds to integrate our technologies," he told mediapersons in Hyderabad on Monday.

The patent-pending Data Factory, which the company calls it as Factory Operating System, will enable global clients to cost-effectively extract, mine, manage and monetise unlimited volumes of data from any number of sources.

The platform is due for launch in June 2015. "We are in talks with the likes of Boeing and GE to have them as our OEM (original equipment manufacturer) clients," Pottula said.

The one-year-old, privately-funded company has centres in Hyderabad and Visakhapatnam with an employee strength of 18 and seven respectively. It plans to ramp this up to 60 in Hyderabad and 220 in Vizag by the end of the current calendar.

"We are also exploring opportunities to house our Data Factory centres of excellence in locations such as Singapore, Australia, Germany and Japan," he added.

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First Published: Mon, February 02 2015. 20:40 IST