Data Analytics startup – Affine Analytics has secured angel investment from Bangalore’s Financial Consulting firm FinAKS Advisory, according to pluggd.in.

The funds will be used to grow sales in US and India and creating IP.

Founded by Manas Agarwal , Vineet Kumar and Abhisekh Anand, Affine uses statistical techniques and mathematical models to analyse large amounts of data and provides insights for companies.

The company has identified 40- 50 parameters affecting sales of an e-commerce company and created a tool which could help the company improve on its rate of conversion.

The company has also developed a framework which can be applied to companies that want to bring down time taken go through data and come up with reports. Affine does similar work for companies in various segments like retail, banking and financial services and e-commerce.

Recently, Fidelity Growth Partners India committed $20Mn investment in AbsolutData, provider of data analytics services to global organizations. The funds will be used to scale up global delivery footprint to meet the growing demand for advanced and big data analytics of the company.

Covacsis secured VC funds of around R2.5 Cr from Blume Ventures, Indian Venture Partners and a European Fund.

Covacsis helps manufacturing companies to measure floor economics in real time. Covacsis' technology helps companies convert operational data into real time financial numbers.

Market opportunity in Big data solutions in India is expected to reach $ 153 million by 2014, says a study by IDC. Much of this spending will go in hardware and storage solutions. Nearly 40% of organizations in verticals like BFSI, Media & Entertainment, Telecommunications, and Government have more than 100 TB data currently.

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