Heckyl Technologies has raised over $3.5 million in Series B investment led by IDG Ventures India. Existing investors Seedfund Advisors also participated in the round. Seedfund Advisors had invested $1mn in the start-up in the first round. Rajiv Dalal, angel investor in the company also participated in this round.
Venkatesh Peddi from IDG Ventures will join the existing board of directors of the company. Existing board consists of Paula Mariwala from Seedfund Advisors and two co-founders.
Coined itself as a disruptive news and data analytics platform for financial community, the company has seen strong growth over the last year. Heckyl now claims to be India’s largest non-broking company that has the largest number of traders using its deep integrated news and derivative analysis platform, with more than 20 broking houses on-board.
By combining the capabilities of Real time analysis of unstructured data from millions of sources along with exchange data into a simple, intuitive and actionable platform Heckyl wants to lead the next generation financial analytics platform. Heckyl proprietary technology – discovers, analyzes and presents the information in real time and thus influences the market dynamics.
The global financial space in terms of News and Data Analytics is approximately around $ 50 Bn. Heckyl started by first tapping into the brokerage market. Heckyl is now planning to release big data mining platform for Financial Institutions and the Hedge fund industry.
Heckyl Technologies was founded in Dec 2010 by Abhijit Vedak, Jaison Mathews, Mukund Mudras and Som Sagar. Within 16 months of launching the product, it has top brokerages like Angel Broking, Sharekhan, Motilal Oswal, IndiaInfoline, Religare etc as its clients.