Ignitho Technologies eyes ₹100 crore revenue in 2023
New York, Chennai, India – November 4, 2022 – Ignitho Technologies, a US-headquartered digital engineering company, has set a target of ₹100 crore ($15 million) in revenue in 2023. This is on the back of new engagements that Ignitho has won with multiple Fortune 500 and Nasdaq listed companies in the US. The present revenue figure was $3 million (₹22 crore).
To further give impetus to this exponential growth, Ignitho has named Sunitha Rajagopal, former Nielsen-VisualIQ executive, as its Head of Finance. Sunitha brings a decade of experience in the field of finance and was with Nielsen-VisualIQ for close to 9 years playing a pivotal role in its financial and taxation areas.
She will manage Ignitho’s finance and compliance globally and will also be part of Nuivio Ventures, Ignitho’s parent company, supporting its initial fund raise planned for next year.
Joseph Olassa, the company CEO said having bootstrapped with money from the founding team and with the potential to cross ₹100 crore in revenue in 2023, a sizable investment into Nuivio Ventures at this stage will take the company much faster towards our vision.
“Nuivio Ventures already have success stories like Ignitho and Piqual, and we are confident of getting to our vision of 50 SaaS companies and 50 entrepreneurs by 2030. We have started early conversations for $5-10 million in funding from the US and Indian investment communities,” he said.
Established and led by industry veterans from top-tier IT services companies like Cognizant and Mindtree, Ignitho has built an enviable track record of being a challenger vendor in data-led, cloud-enabled, digital engineering services.
Ignitho’s POD-based project teams come with a product engineering mindset and discipline in agile delivery, enabling digital agility and business growth for its clients. In addition, Ignitho’s parent company, Nuivio Ventures Inc, brings together an ecosystem of innovative enterprises, early-stage investors and passionate entrepreneurial professionals to build standalone software companies.