Snowflake to increase India headcount to over 700 by year-end
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Enterprise AI solutions firm Snowflake plans to hire around 100 people to increase the headcount of the company to over 700 by the end of this year, a senior company official said.The company at present has around 600 employees in India and is also planning to set up a research and development (R&D) centre in the country."We recently opened a new office in Mumbai, and are going to expand our office presence in Bengaluru before the end of 2025. We currently have over 600 employees and aim to be more than 700 employees by the end of 2025 across sales, operations, solutions engineering and marketing," Snowflake India Managing Director Vijayant Rai told PTI.He said that the team expansion in Pune is to basically work with customers who are present in India and assist them in digital transformation.Rai said that 50 per cent of Snowflake's APJ (Asia Pacific and Japan) partner ecosystem is rooted in India, reflecting the vast opportunity the region offers and highlighting India's vital role in Snowflake's global success.He said that India is one of the fastest-growing economies and offers a lot of headroom for Snowflake to penetrate in segments where the presence of data solutions, cloud technologies, etc, is still very low."There is a lot of headroom for growth in India. It is definitely being looked at as a growth market for Snowflake, and that is why you know we are looking at increasing our coverage. India is also a very, I would say a large-scale data market, right based on the scale at which companies operate in India," Rai said.He said that some of the company's customers in India are unicorns and are dealing with hundreds of millions of users of their own, which is all a data play.Snowflake provides AI solutions that help companies add AI technology to their existing database. It uses AI technology developed by various firms like OpenAI, Meta, Deepseek, etc, to develop technological solutions for enterprises.Rai said India is also a unique market from a perspective of the challenge of data itself and the scale at which it operates."Today we have a lot of digital native customers of ours who operate at multiple petabytes scale you know on Snowflake and that's a unique piece for Snowflake as well because you know only India and China would have that sort of organisations catering with as many customers who consume a lot of data," he said.Rai said that in the Indian BFSI segment , driven by financial services, retail and independent software vendors are fueling growth for the company.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
30 minutes ago
- Business Standard
Statsguru: Rising engine-failure incidents cast a shadow on Indian skies
The common issues identified include failures in the High-Pressure Turbine and Gear Turbo Engine systems Jayant Pankaj Listen to This Article On July 16, an IndiGo flight was forced to make an emergency landing at the Mumbai airport following a reported engine failure. Two more similar incidents involving IndiGo took place within the same week. In the wake of the Boeing AI 171 crash, concerns over aircraft safety have intensified. However, these are not isolated cases. Flight cancellations in India, particularly those caused by technical glitches, have risen in the past four years to peak in 2023, with engine failures being a major contributing factor. IndiGo, which operates the largest fleet among Indian carriers — including SpiceJet, Air India, and others
The Print
an hour ago
- The Print
Sotefin Bharat plans Rs 80 crore IPO to build parking robot unit for automated parking in Bengal
'We are in the process of launching an IPO, which will help us become Atmanirbhar in the production of robots used in automated parking systems. The robot manufacturing facility will require around Rs 40 crore, while the remaining Rs 40 crore will be largely used for debt reduction and enhancing working capital to undertake larger projects,' Sotefin Bharat Managing Director & CEO Arup Choudhuri told PTI. The entire issue will be a fresh equity offer, with no stake dilution by the promoters or existing PE funds, a top company official said. Kolkata, Jul 27 (PTI) Swiss automated parking solutions major Sotefin SA's Indian subsidiary, Sotefin Bharat, on Sunday said it will hit the capital market to raise Rs 80 crore to support indigenous manufacturing of robots for automated parking systems in West Bengal. The company has announced a new manufacturing facility at Bagnan in West Bengal's Howrah district, entailing an investment of approximately Rs 40 crore. Once fully operational with in-house robotic manufacturing capabilities, the state-of-the-art plant is expected to create over 100 jobs and significantly boost Sotefin Bharat's production capacity, Choudhuri said. The facility is projected to support the creation of over 10,000 automated car parks or 25 automated parking projects per year, he added. The equity structure of the company is evenly held by two Indian promoters—Arup Choudhuri and Jignesh Sanghvi—Swiss partner Sotefin SA, and a clutch of PE funds, each holding 25 per cent. Post IPO, the fresh issue will dilute all existing promoter holdings by 6.25 per cent, taking public shareholding to nearly 25-26 per cent, Choudhuri said. The listing will also help unlock value, and the company is currently working with merchant bankers to prepare the Draft Red Herring Prospectus (DRHP), which is expected to be filed with the regulator within a month. The company has also started exporting its systems to the US and Dubai, officials said. 'Our order book currently stands at Rs 1,000 crore, which should support a 50–60 per cent growth over the next 3–4 years,' said Executive Director Jignesh Sanghvi. PTI BSM RG This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
UK cos can offer telecom services in India without local office under CETA
Companies from the UK will be able to offer services in sectors such as telecom, and construction in India without setting up a local presence, under the free trade agreement signed between the two countries. The British firms will be treated on par with Indian firms. The Comprehensive Economic and Trade Agreement (CETA) was signed on July 24 in London. It may take about a year for items implementation as the free trade pact needs approval from the British Parliament. "UK companies can now provide telecom, construction, and related services in India without establishing a local presence, enjoying full national treatment, meaning they will be treated on par with Indian firms," the commerce ministry said. Services is a key chapter in the agreement as both countries are strong in different kinds of services. India enjoys a trade surplus of around $6.6 billion with the UK. The country's services exports stood at $19.8 billion and imports at $13.2 billion. In the agreement, the UK has provided a comprehensive and deep market access in 137 sub-sectors to Indian firms. On the Indian side, commitments have been extended in 108 sub-sectors, granting UK firms access to domains like accounting, auditing, financial services (with FDI capped at 74 per cent), telecom (100 per cent FDI allowed), environmental services, and auxiliary air transport services, it said.
