Patni Brothers are Investing in Big Data


Patni brothers (associated with Patni computers, which later occupied by iGate), are targeting Big Data to invest in.
Arihant and Amit are to incubate and invest in data analytics startups in India.

The venture, Hive Technologies, will be modelled on a similar US-based initiative, in which the Patnis hold a stake.

The Hive in Silicon Valley offers office space, seed financing of up to $1.5 million (about Rs 10 crore) as well as technology and business support for data analytic startups. It is co-founded by Sumant Mandal, a managing partner at venture capital firm Clearstone Venture and TM Ravi, former chief marketing officer of data analytics firm IronMountain.

Patni brothers’ venture will work out from Bangalore, it will expect to start in 2 month. Initiative will invest between $200,000 to $2M in big data.

Industry experts said it makes sense to focus on big data startups. “A lot of companies were formed on top of the database revolution like SAP, PeopleSoft, Siebel Systems, Business Objects; there will be many companies formed on top of the Hadoop and big data revolution,” said Amr Awadallah, cofounder and chief technology officer at US-based firm Cloudera.

The Patnis plan to invest in four to five startups every year over the next two years, with an exit horizon of eight to 10 years. They are scouting for big data analytics startups focused on the US market and with expertise in such areas as telecom, fraud detection, social media and customer relationship management.

Arihant Patni, who earlier founded legal process outsourcing company Bodhi Global Services, is currently managing director of Patni Financial Advisors, a wealth management company that advises high net-worth families on a wide range of investment options.

original article

Mohit Bansal(23) is B.Tech in Electronics and Communication Engineering from Indian School of Mines, Dhanbad, India. He has interest in business and entrepreneurship and has published couple of research articles. He is also associated with various NGOs. He is with Techaloo when it was just in concept stage. The Techaloo site was not existing even then. Currently Mohit is working with Mu Sigma as a Business Analyst Profile.

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