<article>Singapore&#8217;s state fund <a href="http://www.dealstreetasia.com/?s=Temasek">Temasek Holdings</a> has led a $60 million investment round in Bangalore-based analytics and Big Data firm <a href="https://www.manthan.com/">Manthan Software Services Pvt Ltd</a>. Existing investor <a href="http://www.nvp.com/">Norwest Venture Partners</a> also participated, the company said.</article>

Singapore&#8217;s state fund <a href="http://www.dealstreetasia.com/?s=Temasek">Temasek Holdings</a> has led a $60 million investment round in Bangalore-based analytics and Big Data firm <a href="https://www.manthan.com/">Manthan Software Services Pvt Ltd</a>. Existing investor <a href="http://www.nvp.com/">Norwest Venture Partners</a> also participated, the company said.
This is one of the largest funding exercises for an analytics product company based out of India.
With the recent round of funding, Manthan <a href="https://www.manthan.com/manthan/pressreleases">said </a>it would bet aggressively on the ‘Consumerization of Analytics’.
The company shares the view that consumerization of analytics will revolutionize the analytics market, and in the next 3-5 years, Manthan said it intends to position itself as the global leader in analytics and analytics-driven market applications across industries.
Manthan, which has been operating for a decade, says its solutions help companies address analytics needs across the entire decision-making and action life cycle process. Its clients include McDonald’s, Game Group PLC, Abenson, Ecco, AdvanceRetail, Haggen, Kitchen Collection and Loblaw. The Bangalore-based firm also has offices in Singapore, Brazil, US, the UK and Philippines.
This is a Series D financing for the Bangalore-based company that had raised $15 million in the previous round in 2011 from <a style="color: #000080;" href="https://www.fidelity.com/">Fidelity</a> and Norwest.
The latest investment round includes both a primary issue and a secondary component where existing investor IDG Ventures has exited from the company while another existing investor Fidelity has partially exited.
A report in India’s Mint newspaper <a href="http://www.livemint.com/Companies/BjCacfq4iQmSigKLlaGF6O/Manthan-Software-raises-60-million.html">said</a> Manthan Software has raised more than $80 million so far.
“There was a lot of interest in us but we chose Temasek because we like their long-term view. We want to keep growing at more than 70% over the next two years and eventually go public. We will use the funds to spend on R&amp;D (research and development) and launch new products. We’re also hiring a president and chief marketing officer in the Americas and some senior sales and marketing people in some of our other markets,” Mint quoted the company’s chief executive officer Atul Jalan as stating.
The Big Data space in India has several players that compete with Manthan.
Pune-based<a style="color: #000080;" href="http://www.altion.com/" target="_blank"> Altion Systems</a> Pvt Ltd had recently raised an undisclosed amount in seed funding. In August, Mumbai-based <a style="color: #000080;" href="http://www.fractalanalytics.com/" target="_blank">Fractal Analytics</a> raised an undisclosed amount from the world’s largest loyalty management firm <a style="color: #000080;" href="http://www.aimia.com/" target="_blank">Aimia</a>. A year earlier, Fractal had raised $25 million from Boston-headquartered<a style="color: #000080;" href="http://www.ta.com/" target="_blank"> TA Associates</a>.
IDC has forecast that the traditional analytics business to be worth $59.2 billion by 2018 while A T Kearney pegs big data, software and services at $114 billion by 2018.
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Singapore's state fund Temasek Holdings has led a $60 million investment round in Bangalore-based analytics and Big Data firm Manthan Software Services

Temasek leads $60m round in India's Manthan

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