Observability Platform LOGIQ Raises $1.8 Mn In Seed Funding From Leo Capital
The investment will be used to expand technological capabilities
Bengaluru-based observability platform LOGIQ for IT administrators and development and operations (DevOps) teams said on Wednesday to have raised $1.8 million in its first institutional seed funding round led by Leo Capital.
The funding will be used to expand its artificial intelligence (AI)/machine learning (ML) capabilities and onboard more customers.
The company claims to solve the omnipresent problem enterprises are faced with when handling the variety and volume of data in the organization, while running their information technology (IT) infrastructure and applications.
“We started with the goal of helping enterprises transition from managing their data in silos to a more unified manner in which they can harness their data. With LOGIQ, we want to empower developers and administrators in keeping their infrastructure and applications always running. The funding raised will enable us to widen our reach and also enhance our AI/ML capabilities,” explained Ranjan Parthasarathy, chief executive officer, and co-founder, LOGIQ while commenting on the fundraise.
The company is the creator of its LOGIQ platform that is converged data analysis software that brings ingest, indexing, search, structured query language (SQL), and streaming capabilities backed by any S3 compatible object-store. LOGIQ Log Insights is built on this converged architecture bringing scalability and simplicity to your IT operations analytics projects. The converged architecture enables rapid integration with AI platforms for gaining valuable business insights from the given data.
“Data is the new oil across enterprises. However, there is also a need for a solution that helps them manage this data efficiently without hampering their operational efficiency or infrastructure. This is what LOGIQ has set out to do with its products and offerings. This funding will help us take our solutions to more industry stakeholders,” said Tito George, co-founder, LOGIQ.
By unifying data types, such as logs, metrics, databases, and application programming interface (APIs), the observability platform enables them to harness the power of machine data analytics for applications and infrastructure in a single platform with 1-click simplicity. Users can aggregate log data, gather performance metrics, access API's and connect databases such as Elastic, MongoDB, Postgres, Druid, and Mysql for real-time visibility into the health of their IT infrastructure and application environments.
“There is a huge amount of data being generated across all sectors today. Consequently, the need of the hour is a platform like LOGIQ that can help enterprises organize, manage, and categorize this data without affecting their processes and infrastructure. We are thrilled to back them and have tremendous faith in both the company and its leadership,” added Rajul Garg, managing partner, Leo Capital.
According to the International Data Corporation (IDC) survey, half of all organizations process more than 100GB of log data in different formats every day, and the numbers continue to rise. This is just the tip of the iceberg. There is such a flood of data available from APIs, databases, and data lakes. The lack of a unified platform that can converge this data has long been a pain point for IT practitioners, DevOps users, and developers alike. After witnessing this gap, the platform submits to have a mission to make all IT data, accessible and analyzable.
LOGIQ further plans to democratize the observability space and make it accessible for organizations of all sizes.