AI Based Converged NoSql Pioneer BangDB Raises Bridge Funding Round from Ten Innovate

BANGALORE, India, Dec. 29, 2021 /PRNewswire-PRWeb/ -- BangDB, a pioneer in AI based Converged NoSQL database technology today announced that it has closed a bridge funding round led by Ten Innovate. The financing comes after impressive growth in 2021 with large user adoptions coupled with competitive wins at enterprise level both in accounts and partnerships. BangDB will use the funds in product development along with new sales channels and initiatives, which will be announced in the coming weeks.

Funding Highlights

• The funding comes on the heels of the release of BangDB 2.0 in November 2021. The release added Graph features along with REST API support for AI, streaming and document database for IOT and other real-time high performance data analytics use cases.
• The successful financing reflects a more than 120K plus active users for BangDB across different verticals and with several key account additions and high profile partnership forging during 2021. BangDB has also been rated as the highest performing NoSQL database by the YCSB benchmarking putting it ahead by 2X+ over the competitors.
• Building upon the success of BangDB Server 2.0, BangDB will use the new funding to accelerate product development and marketing along with the upcoming BangDB as a service release in the first quarter of 2022.

Supporting Quotes

• "Since the 2.0 release of BangDB last December, BangDB's growth has been remarkable," said Sachin Sinha, Founder and CEO of BangDB. "The bridge funding has come at an opportune time and will be used for research and product development along with enhancing the user base for BangDB coupled with establishing new sales channels to allow us to win high profile enterprise accounts."
• "We are a set of professionals who are part of the Oracle family who invest in Entrepreneurs from the Oracle family, for the purpose of promoting entrepreneurship among our community." said Rajeev Shroff, Founder, Ten Innovate. "We see association with BangDB as a great growth opportunity in the Enterprise software solutions space coming out of India, as that's really uncommon. Great to partner with Venture East, a fund we really admire for the support to their portfolio companies. We are thrilled to be working with the BangDB team."

Clients and Partners:

Airpay, Cisco, Accenture, Ellementry, CtrIS, Fully Filmy, Make My Trip, Opera Solutions, Wine Central, IBM, NetAPP, o9 Solutions

Additional Resources:

Visit http://www.BangDB.com
Download BangDB Server 2.0
Follow @IQLECT on Twitter

About Ten Innovate

The Entrepreneurial Network (TEN) was founded in 2012 and is a group of like-minded technology and business professionals with a common heritage of having worked together in the early years of Oracle India, now pooling together their vast range of skills and expertise to build a collaborative startup ecosystem. TEN's blend of technology expertise, cross-domain knowledge, strong development and operational skills and startup experience creates a powerful vehicle to help transform innovative ideas into successful businesses. Members include proven business mentors, academics, finance experts, HR leaders, technology gurus, senior engineering managers.

About BangDB

BangDB (IQLECT) was founded as part of IQLECT in 2015 by Sachin Sinha who is also the company's CEO. The team at BangDB represents the best minds and leaders that come with decades of experience in this area from companies such as Amazon, IBM Research, Facebook, EMC, Informatica, Microsoft, Oracle, Yahoo, Novel etc. They have an academic background from reputed institutes like IITs, MIT, Berkeley, Univ of Utah, Univ of Wisconsin, Madison with B.Tech, MS and PhDs in Database and Analytic domains. For more information, visit http://www.BangDB.com.

BangDB (IQLECT) is a Bengaluru based startup which offers a high performance modern NoSQL data platform for real-time operational intelligence and actionable insights. It has been funded by several Angels like Michael Marks, Lip Bu Tan, Nicholas B, Pradeep Khosla and leading VCs like VenturEast and Exfinity Venture Partners.

Media Contact

Akshay Jinsi, BangDB, 91 9891005591, [email protected]

SOURCE BangDB