Decimal Point Analytics raises 35 crore funding through a Large Global Institutional Investor

 

The company plans to leverage its strengths to develop and market SaaS based products through a wholly-owned subsidiary 

by Priya J

MUMBAI – May 27, 2022: Decimal Point Analytics (DPA) a rapidly growing provider of Data Analytics products and services, announced today its strategic investment of 35 crores by a large global institutional investor. DPA’s expertise in the Finance and Technology domains enables it to build a cutting-edge bespoke solution in Financial Research and Data Analytics for its clients across the US, UK, Europe, India, Middle East, and South Africa.

The Company has aggressive plans to leverage its strengths to develop and market SaaS based products over the next couple of years. through its wholly-owned subsidiary, DPA Smart Cloud, at IFSC, Gift City, Gandhinagar. 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.

Shailesh Dhuri, CEO, Decimal Point Analytics says, “Over the past years Decimal Point Analytics’ ability to bring AI and ML in financial research has helped extensively for transition to the new paradigm and see the growth momentum continuing in ESG and related field. With the investments, 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 further adds, “We have tripled our staff strength till May 2022. Revenues are on track for the last 36 months and have achieved strong growth milestones even before external capital infusion. We are confident that will double our growth every year. Along with this, in the coming years will plan our IPO as well.

Paresh Sharma, Managing Partner for Advanced Technologies of Decimal Point Analytics said, “We have seen a strong shift towards Smart Cloud Solutions, the next generation of cloud-based solutions, which enable extracting value from intrinsic strengths of cloud by incorporating AI and ML in the process flow of data analytics itself, thereby reducing the time to market by significant margins. Decimal Point Analytics is building such smart cloud solutions and this infusion of investment will help us accelerate the transition to tomorrow’s solutions today.”

Gaurav Gupta, Managing Partner and Head of Business Development at Decimal Point Analytics, said, “Our global customer relationships have been built and reinforced on the back of robust and creative solutions that address key areas of business challenges faced by them. Our effort is to keep looking at resulting business challenges and technology that will be of importance to our customers in a fast-changing and dynamic world.”

With a team of about 500 employees, DPA has delivery offices in Mumbai, Nashik and Gandhinagar in India and marketing offices in the UK and the US.

About Decimal Point Analytics: DPA was formed in 2003 by senior professionals from the Indian Capital Markets, and is a global provider of Research and Data Analytics products and services, including Machine Learning and Artificial Intelligence based solutions. Key client categories include Data Providers, Asset Management Companies, Private Equity Firms and Hedge Funds, Banks and Insurance Companies and Broking Houses. DPA’s background and understanding of Financial Research and its strengths in Technology provides it an edge in understanding and solving client problems effectively.