Acquiring Startup To Realize Data Engineering Plans

In the post covid- scenario, Turtlemint has set its targets and plans for IT, digital initiatives, for business growth in the foreseeable future. Dhirendra reveals: “Turtlemint strongly believes that the technology will continue to be the main driving force in the insurance ecosystem, orchestrating change and enabling inclusive growth. As we forge ahead, we plan to focus on automating processes and optimally leveraging data science, data engineering, Robotic Process Automation (RPA), and deep learning and OCR capabilities.”

Turtlemint recently acquired Pune based startup IOPhysics Systems. IOPhysics has a highly talented tech team. The startup aims to help data scientists and data engineers derive intelligence from structured or unstructured data in real-time. As part of their highway to a 100 Unicorns program, Microsoft recognised IOPhysics as the ‘Most Innovative & High Potential Startup’ across tier-2 cities in India. As a part of the deal, Turtlemint will also be taking over the IOPhysics IP and product portfolio. Passion Connect, the HR advisory unit incubated by Blume Ventures, one of Turtlemint’s investors, played a crucial role in this acquisition.

Turtlemint co-founder Anand Prabhudesai explains the whole process: “As our company goes into the next phase of growth, data science and data engineering have become critical focus areas. Passion Connect recognized this need, leveraged its strong network in the startup community and connected us to various startup teams across domains. We loved the IOPhysics team, their IP and product since it allows developers to be cloud-agnostic and pick data platforms that suit the best need for the use case.”

IOPhysics’ founder and CEO Ashish Gawali will join the Turtlemint team as their VP, Data Science and Data Engineering, while the rest of the IOPhysics team will join the tech and data science verticals at Turtlemint. Its USP is its flexibility to integrate any data with any public cloud data platform of choice and data visualization tool – all with an easy-to-use interface. Ashish Gawali, founder, IOPhysics, says: “When we were introduced to Turtlemint, we realized that both teams shared the same passion for improving people’s lives, even in remote pockets of the country. In addition, we have immense respect for the intelligence and experience of their leadership team.”