16th December 2020, Bangalore:LOGIQ, an observability platform for IT administrators and DevOps teams, announced that it has raised US$1.8 million in its first institutional seed funding round, led by Leo Capital. The funding will be used to expand its AI/ML capabilities and onboard more customers. LOGIQ solves the ubiquitous problem enterprises are faced with when handling the variety and volume of data in the organisation, while running its IT infrastructure and applications.
Half of all organizations process more than 100GB of log data in different formats every day, and the numbers continue to rise. 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.LOGIQ's mission is to make all IT data accessible. By unifying data types, such as logs, metrics, databases, and APIs, LOGIQ's Observability platform enables them to harness the power of machine data analytics for applications and infrastructure in a single platform with 1-Click simplicity.
Commenting on the fundraise Ranjan Parthasarathy, CEO and Co-Founder, at LOGIQ, said, “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.”
Tito George, Co-Founder, LOGIQ, said, “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.”
Commenting on the investment,Rajul Garg, Managing Partner, at Leo Capital, said, “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.”
LOGIQ can be hosted as a self-service or managed SaaS, providing maximum flexibility to the user. LOGIQ’s support for industry standards ensures full compatibility with legacy infrastructures like bare-metal servers, VM's, switches, and more modern cloud-native environments like Kubernetes and public cloud infrastructure.The brand has a strong and motivated team with over 100 years of expertise in production engineering, building and running IT, DevOps, and DevSecOps in private and public cloud environments.