Decimal Point Analytics (DPA) Private Limited., which provides data analytics products and services to global hedge funds, investment banks, venture capital firms, private equity funds among others, said it had raised ₹35 crore in equity capital from an unnamed large global institutional investor. The company declined to disclose the amount of stake dilution.
The firm serves its clients across U.S., U.K., Europe, India, West Asia and South Africa and is now planning to expand its operations to Brazil.
In future, it is planning to develop and market SaaS-based products through its wholly-owned subsidiary, DPA Smart Cloud, at IFSC, Gift City, Gandhinagar, it said.
“The services proposed under DPA Smart Cloud are expected to serve a wide range of financial services firms and provide them access to better quality services at a lower cost, along with benefits that come as part of the cloud solution. We will invest the capital to develop this cloud solution,” said Shailesh Dhuri, CEO, Decimal Point Analytics.
“With this investment, we are looking to expand our services in risk management, catastrophe modelling, actuarial services, and others. Using the latest and innovated technology will enable our clients to achieve significant enhancement through quality, timeliness and efficiency,” he added.