Singapore's Crayon Data to raise $11 mln in Series B funding round

Crayon Data, a Singaporean data analysis company, is planning to raise Series B funding round to the tune of around $11 million from existing and new investors.

The fund would be used for expansion in western markets, including in the U.S., and for technology development. The company plans to invest in sales to grow over the next two to three years.

Besides, the fund will be invested into partnerships like U.S.-based technology giant Microsoft, Visa and others. While it is catering to large customers now, it is also developing a standard platform for the mid-tier firms and this will be launched next year to sustain growth momentum.

The fundraising is expected to be completed by the next quarter.