Qlik bullish on India, aims to cross 1,000 customer base this year
Bullish on Indian market growth, leading data analytics and artificial intelligence player Qlik expects its customer base to cross 1,000 this year. "We have doubled our business in the last two years. We have a good representation of 800 plus customers now, including Indian Oil, Ather Energy, NSE and HDFC Life," Qlik Managing Director (India) Varun Babbar told PTI here. Prodded further about crossing the 1,000 customer milestone, he said, "We should be able to do it soon...it should happen this year, but it's difficult to say exactly when". There are a lot of small and midsize businesses that are doing quite well, and they are going to be the next set of partners, both on data analytics and AI strategy. From a headcount perspective, he said, India is the third largest employer within the Qlik ecosystem after the US and Sweden. India is prioritised a lot in terms of investment as well, he said, adding that, data centre was opened recently in India with a large investment.
Located in Mumbai, this strategic investment enhances Qlik's global cloud infrastructure and deepens its long-term commitment to the Indian market, meeting the growing demand for local data storage, regulatory compliance, and advanced AI capabilities.
Besides, he said, the company is making a lot of investment in advisory services, and through that, vertical guidance is provided to customers in terms of data environment and data strategies for achieving greater efficiency. Qlik senior vice president (APAC) Maurizio Garavello said India headcount has doubled in the last 16 months, and hiring would continue as business is growing in the market. Go big is the direction that top management has given as far as the Indian market is concerned, Garavello added. The US-based IT company, earlier this month, unveiled a new agentic experience to drive faster decisions and boost productivity by bringing new simplicity to complex data-driven workflows. Besides, the company launched Open Lakehouse, a fully managed Apache Iceberg solution built into Qlik Talend Cloud. The agentic experience will provide a single, conversational interface, allowing users across the enterprise to interact naturally with data, using specialised AI agents to quickly uncover insights, drive faster decisions, and boost productivity, bringing new simplicity to complex data-driven workflows.
At the heart of this continuous innovation is the Qlik engine, a unique technology that indexes relationships across data, enabling the discovery of unexpected connections.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
11 minutes ago
- Business Standard
Flawed to say domestic flows alone inflate India's valuations: Ridham Desai
Samie Modak Sundar Sethuraman Mumbai Listen to This Article The domestic markets have traded at a premium to emerging market (EM) peers long before the domestic investment boom, says Ridham Desai, managing director and chief India equity strategist, Morgan Stanley India. In an interview with Samie Modak and Sundar Sethuraman in Mumbai ahead of Morgan Stanley's annual India Investment Forum, Desai said sustained foreign portfolio investor (FPI) flows will depend on India maintaining its appeal as a stable and high-return market. Edited excerpts: What has driven the Indian stock market's sharp rebound from the April lows? The market's recovery can be assigned to three factors.
Time of India
22 minutes ago
- Time of India
'Roles within IBM in India haven't dipped'
India is among the fastest growing markets for IBM, which expects to open a new centre in Lucknow by September this year, said Sandip Patel, the technology giant's managing director for India and South Asia. 'India is designated as one of the five growth markets for IBM around the world, the other ones being Saudi Arabia, Indonesia, Mexico, and UAE,' Patel told ET. In the last four years or so, IBM has more than doubled its business in India, he said. It has also been expanding in tier-2 and 3 cities, such as Gandhinagar and Kochi. Now, it is looking for fresh talent for the proposed Lucknow centre. 'We are going to make it the hub for a lot of our data capabilities… hoping we will inaugurate sometime in September,' said Patel. India with its demographic dividend can become the 'skill capital' of the world, but meaningful upskilling is needed, he said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories 'Work is going to take fewer people-no questions about it. With automation, the traditional jobs will go away. So, if you don't skill yourself to stay ahead of the curve, it is going to be very difficult,' said Patel. At IBM, artificial intelligence (AI)-aided productivity boost has saved the company $3.5 billion in the last two years. 'There is a lot of coding that is automated, but that automation of that coding does not preclude people who are good test engineers, who can develop the right kind of test scripts around it, (from evolving into) prompt engineering, which is becoming a huge discipline--so those roles are getting created,' said Patel, adding that we are yet to scratch the surface of these new roles. 'For those roles, you will need basic technology acumen of people who have the right way of thinking logically about programming and writing code,' he said. While most Indians are apprehensive that lower-level roles in the IT sector may be taken over by AI, disrupting the traditional pyramid hiring structure, Patel believes that early professional hired talent is a good thing, with more staying power within an organisation and the ability to adapt culturally. 'Shaping talent to adapt to the kinds of technologies that you ultimately want to proliferate, I think it's going to still be a blend of both (fresh and experienced hires),' he said. The total number of roles within IBM in India has not dipped, Patel said, adding that the level may be higher than before it divested its managed infrastructure services arm Kyndryl in 2021. Today, businesses haven't yet scaled AI to the point where the jobs are being impacted, he said. While about 97% of Indian businesses say they are investing in AI, only 25-26% are moving from experimentation to scale, according to an IBM study. The top challenge is AI governance . 'That ties back to the lack of trust-can you really trust the data that is being used? Can you trust the models? Can you trust the provenance of models? Can you ensure that there is no bias that has crept into these models?' said Patel. IBM has been investing in 'client engineering' to run proofs of concepts (POCs) to demonstrate solutions rather than simply talking about them, he said. 'Now, banks and public sector units and others that we have been working with, they are moving into getting their data platforms organised so that they can take advantage of AI,' said Patel. 'That is another phase of transformation. Digital transformation (in) core banking was done, but now core banking has become stale. What do you do with it to actually get to the next phase?'
Time of India
22 minutes ago
- Time of India
Wealthtech startup Stable Money raises $20 million in round led by Nilekani's Fundamentum Partnership
Wealthtech startup Stable Money, which provides digital fixed-return investment products, has raised $20 million (Rs 173 crore) in a funding round led by Infosys cofounder Nandan Nilekani 's Fundamentum Partnership . Existing backers Z47, RTP Global and Lightspeed, along with Aditya Birla Ventures, also participated in the round. The Bengaluru-based company will use the fresh capital to expand its suite of wealth products and accelerate customer acquisition by strengthening its distribution, cofounder Saurabh Jain told ET. 'In the last four or five years, most of the investments have come into categories like mutual funds, stocks and crypto, and they have seen massive growth. Everybody thought that was the opportunity for India,' Jain said. 'But there is a larger segment, which is currently under-tapped. That's when we started with fixed deposits ( FDs ), and I think that segment has given us a lot of love and volumes, which is very surprising, even to us,' he added. Users can create FDs on the platform starting at Rs 1,000, Jain said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Jain previously served as CEO of Navi Mutual Fund and held leadership roles at Swiggy . His cofounder, Harish Reddy, was formerly with the broking firm Estee. The company plans to onboard at least eight new banks and non-banking finance companies (NBFCs) in 2025. It currently has partnerships with around eight banks and two NBFCs. It also aims to broaden its marketing efforts to target underserved investors in tier-II and tier-III cities. As per its mobile application, banks currently integrated on the platform include IndusInd Bank, South Indian Bank, Slice Small Finance Bank, Ujjivan Small Finance Bank, Unity Small Finance Bank, and Suryoday Small Finance Bank. Stable Money had earlier raised $20 million across multiple rounds from investors, including Z47, Lightspeed, RTP Global, and Marshot, as well as angel investors such as Swiggy cofounder Sriharsha Majety and Titan Capital's Kunal Bahl and Rohit Bansal. Since its launch in 2022, Stable Money has onboarded more than 150,000 users, who have invested in FDs and bonds, taking its total assets under management (AUM) to over Rs 3,000 crore. The company noted that FDs remain India's most popular financial product, with over 230 million Indians holding them. The category continues to grow at the rate of 12% annually. In addition to FDs, Stable Money also offers investment products such as recurring deposits (RDs), secured credit cards, and bonds on its platform. While platforms such as Groww and Zerodha offer FDs, sovereign gold bonds (SGBs), and other fixed-income products as part of broader investment portfolios, several fintech players have also recently launched FD offerings. For instance, Flipkart-backed launched its FD product in November 2024, while payments firm MobiKwik rolled out instant FDs on its app last year. 'Stable Money is reimagining savings by building a highly trusted, digital-first fixed-income investment platform. They've blitzscaled from zero to over Rs 3,000 crore in AUM and have demonstrated 40% growth over the last three months. The team has democratised access to fixed-income products and built incredible customer love along the way,' said Mayank Kachhwaha, principal at Fundamentum. Vikram Vaidyanathan, managing director at Z47, added: 'We are seeing a generational shift in how Indians approach wealth, with a cohort of investors prioritising long-term compounding of savings over short-term gains. Stable Money has built deep trust in fixed-income products through a combination of user education, access, and a superlative consumer experience.'
