Julia Computing Raises $4.6 Million in Funding - the Economic Times

11/28/2017 Julia Computing raises $4.6 million in funding - The Economic Times

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NEWS FLASH This summit wouldn't have been possible with Niti Aayog: Sushma Swaraj Julia Computing raises $4.6 million in funding

By J Vignesh, ET Bureau | Updated: Jun 22, 2017, 08.58 AM IST

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BENGALURU: Computing, the company founded by the creators of opensource programming language Julia, has raised $4.6 million (about Rs 30.6 crore) from USbased General Catalyst and Founder Collective. It plans to use the money to accelerate product development.

Julia is an opensource language for high performance technical computing and data It can potentially be used in diverse areas such as science. It can potentially be used in diverse financial markets, algorithmic trading, air safety, self areas such as financial markets, algorithmic driving vehicles, astrophysics, drug discovery and trading, air safety, selfdriving vehicles, augmented reality. astrophysics, drug discovery and augmented reality.

“For most opensource companies, the business model is based around consulting but it is not good for a longterm sustainable business,“ said Julia Computing CEO Viral B Shah. “We thought we should do product development. The money will help us build the business side of the company sales, marketing and service. We wanted to compete in the market. We wanted to focus on the finance market and provide tools for investment banks and insurance companies.“ Are you a GST Consultant? List your business for free & grow

Founded in 2015, the company has offices in Bengaluru, New York, Boston, London and CREATE FREE LISTING San Francisco.

“We selected General Catalyst and Founder Collective as our initial investors because of their success in backing entrepreneurs with business models based on opensource software,“ said Shah.

Shah has been instrumental in framing the policies and the technology behind the Aadhaarbased payments systems for government payments and the eKYC platform.He has also coauthored `Rebooting India: Realizing a Billion Aspirations' along with Nandan Nilekani, former chairman of the Unique Identification Authority of India.

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