Xacmaz Technology Pvt. Ltd, which administers Blue Sky Analytics, has raised INR 2.72 crore in the latest funding round.
The company has received much of its investment from the Patrick McGovern Foundation and Schmidt Futures, which are associated with International Data Group founder Patrick J McGovern and former Alphabet Inc. executive chairman Eric Schmidt, reported VC Circle citing the company's official statement.
The Impact-focused fund, MIT Solve that is run by the Massachusetts Institute of Technology has contributed a share in the collected sum garnered by the company.
"The company will use the funds to build its products developed as application programming interfaces (APIs) and hire talent for its developer and data science teams," Abhilasha Purwar, CEO at Blue Sky, told the cited media agency.
The company was initiated by Purwar and Kshitij Purwar in 2018. It employs artificial intelligence and machine learning to assess satellite data, as well as build environmental monitoring products.
Purwar is a former student of IIT, Varanasi and Yale School of Forestry Environmental Studies. She has worked along with WeWork India and investment company, GoldenSet Capital Partners.
On the other hand, Kshitij Purwar works as Chief Technology Officer at Blue Sky Analytics. He has previously worked as a freelance developer and was a member of SaaS suite, Hiver.