LogFuze, a Chennai-based startup with an online analytics platform for machine data, has today announced that it has raised $250K in its seed funding round, led by an angel investor – Siva Ramanathan.
Founded in October 2013 by husband-wife duo Venkadesan Velu and TK Gayathri, LogFuze provides an end-to-end internet of things (IoT) analytic solution for machine and cloud infrastructure, predictive and prescriptive analytics for internet connected devices.
The platform also helps to improve workforce with smart auto-support for complex machines and has around 12 people in its team. Its primary customers are OEM customers who are weighing between a build vs buy for their in-house analytic solution.
LogFuze offer a cloud-based SaaS platform HoraData that can be easily be customised to client’s needs in less than two weeks. It claims to be the only predictive analytics IoT SaaS platform for OEMs, service providers and customers at a lower cost.
Siva Ramanathan, angel investor, said:
Venkat had most of his idea demonstrable before funding. Venkat also had few early customers that would use and test the idea. Venkat moved fast and built a great team of technical leads. I found the team passionate and committed.
Venkadesan Velu, founder of the company, said,
“In India, IoT is evolving and it is enabling old manufacturing plants in oil & energy, automotive and healthcare industries to become smarter. With our partnership with multitude of IoT sensor manufacturers, we are bringing predictive analytics to these devices like vibration analytics, heat analytics and flow analytics.”