LOGIQ raises $1.8m in seed funding from Leo Capital
LOGIQ, an observability platform for IT administrators and DevOps teams, announced that it has raised $1.8m 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 their 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. This is just the tip of the iceberg. There is such a flood of data available from APIs, databases, data lakes, etc. 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 and analysable.
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. Users can aggregate log data, gather performance metrics, access API’s and connect databases such as Elastic, Mongo, Postgres, Druid, and Mysql for real-time visibility into the health of their IT infrastructure and application environments.
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.”
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.”