Coralogix to Invest Major Chunk in India

Coralogix plans to increase the size of its India head office in Gurgaon, set up an office in Bengaluru and expand teams

- Rwit Ghosh

Israeli data analytics startup Coralogix will be deploying most of its fresh fundraise of $115 million in India as it looks to deepen its presence in the country, according to the company's India head.

"We're going to ramp up the engineering R&D team here in India, including a large number of positions relating to artificial intelligence and data science," Navdeep Manaktala, India head at Coralogix, told Mint in an interview. India is one of the company's top three markets, the other two being the US and Europe.

Coralogix, which also runs a cybersecurity business, on Tuesday announced its Series E fundraising round led by California-based New View Capital and NextEquity Partners with participation from the Canada Pension Plan Investment Board (also known as CPP Investments).

The company's post-money valuation stands at over $1 billion, making it a unicorn startup. Prior to the latest fundraise, the company had raised a $142 million Series-D round in 2022, led by Advent International and Brighton Park Capital.