Global scientific informatics services firm Zifo RnD Solutions has expanded its operations by opening new centres in Chennai and Shanghai as part of its growth plans, said a top official.
“Currently, we employ 500 people in Chennai and 100 overseas,” said Raj Prakash, co-founder and CEO, Zifo RnD Solutions. “This number will be more than doubled to 1,200 by 2023. We will have about 1,000 people working in Chennai and the rest in overseas market,” he said.
The decade-old city-based company offers R&D informatics solutions for pharma, biotech, manufacturing QC, medical devices and speciality chemicals sectors. It also provides scientific informatics and data analysis to research-based organisations.
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On Thursday, British Deputy High Commissioner Oliver Ballhatchet opened Zifo’s 500-seater facility in DLF IT park. “Right now, this facility has 86 seats and will be raised to 130 by March 2020 and reach full capacity of 500 seats by March 2023,” he said.
“We have our major presence in the U.S. with three offices, followed by the U.K. Germany, Japan, France. [A] lot of development is happening in this space and that’s why we expanded our facilities in Chennai and Shanghai. Very soon, we will be entering Singapore market,” he said.
Mr. Prakash said last year, the company had clocked a revenue of $20 million of which exports accounted for 98%. Their aim was to touch $100 million by March 2023.
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“We have been posting a CAGR of 35% to 40% year-on-year and this number is achievable,” he added.
To a question, he said Zifo was a bootstrapped firm and it started making profit since 2010.