Crayon Data, a Singapore-based big data firm has raised an undisclosed amount from Ratan Tata, joining the league of a dozen startups that the chairman emeritus of Tata Sons has backed recently.
This personal investment from Ratan Tata comes three months after he joined as a senior adviser to Jungle Ventures, the Singapore-based VC which has invested in Crayon.
“We are excited and honoured. To have our vision validated by Ratan Tata is an accolade in itself,” said Srikant Sastri, co-founder of Crayon Data.
“Tata is one of the most respected names in business and this investment is part of his goal of encouraging the ecosystem of entrepreneurship. It is an endorsement of what we are building,” Suresh Shankar, another co-founder of Crayon Data.
Crayon Data was founded by Sastri and Shankar in 2012. It had previously raised around $10 million in funding from institutional investors such as Jungle Ventures and Spring Seeds.
Ratan Tata, after retiring from Tata Sons, has been one of India’s most active startup investors. He has been building a portfolio of new-age businesses across sectors ranging from consumer internet.