primeNumber Expands into India Following its Success in South Korea, Launches Business Development Team Locally
TOKYO and BENGALURU, India, March 22, 2024 /PRNewswire/ -- primeNumber Inc. (Headquartered in Shinagawa, Tokyo, CEO Yuki Tabe) is proud to announce its expansion into the Indian market within the data technology sector.
Following the announcement of its entry into South Korea in November 2023, this marks the company's second venture into an Asian city.
A new business development team has been established in Bengaluru, located in Southern India, aiming to extend the reach of primeNumber's flagship service, trocco, within the Indian market.
India is poised to serve as a base for business expansion into Europe, supporting the global utilization of data.
- About the Indian Market in Recent Years
According to a press release issued by the World Bank in October 2023 (*1), India's real GDP growth rate is projected to be 6.3% in fiscal 2023. Furthermore, according to S&P Global, India's nominal GDP will increase from 3.5 trillion USD in 2022 to 7.3 trillion USD by 2030 (*2).
On the other hand, there is also an increasing trend of promotion of Japanese startups expanding into India. With Japanese venture capital firms planning for expanding to India, the Indian government has announced the establishment of a ``Small and Medium Enterprise Promotion Office'' within the Indian Embassy in Japan (*3). In addition,The Japan External Trade Organization (JETRO) also offers mentoring and introduces potential partners and VCs to Japanese startups entering India through its Global Acceleration Hub. (*4 ).
- About trocco for the Indian Market
primeNumber has been developing a comprehensive data infrastructure support service ``trocco'' in Japan. By using ``trocco'', one can start analyzing and utilizing data quickly and safely with low learning costs, making it possible to build a data infrastructure that can withstand long-term operation. India is not only attracting attention for its overall economic growth potential, but when looking at the big data market, it is expected to grow at a CAGR (compound annual growth rate) of approximately 10.60% between 2023 and 2027. (*5) In addition, the Indian government is promoting the national digital policy "Digital India" (*6) and is developing IndiaStack (*7), a public-private data utilization platform, and the data analysis and data utilization market for Indian companies will continue to grow. primeNumber believes it is an important time to expand further into the Indian market.
- About primeNumber's India Expansion and its Global Business
primeNumber adopts a belief in the success of a partnership strategy for its international business expansion. In South Korea, where its entry was announced in November 2023, the company has signed a partnership agreement with a local IT company to expand sales channels and utilize trocco. Similarly, in India, primeNumber plans to expand its business through partnerships with IT companies supporting data utilization within the country. With the support of JETRO, the company aims to acquire a wide range of customers across industries. The launch of trocco's AWS Mumbai region edition will also contribute to cost reduction for customers and ease the burden of data regulation compliance, enhancing the efficiency of sales channel expansion. The establishment of an Indian subsidiary is under consideration based on business expansion progress.
- Now let's understand about "trocco" and how has it turned out to be a comprehensive Data Infrastructure Support Service.
"trocco" is a fully managed automated data infrastructure service platform. With low learning costs, one can start analyzing and utilizing data quickly and safely, making it possible to build a data infrastructure that can withstand long-term operations, and realizing a world where "all data can be turned into business power."
A typical feature is "automation of data integration." Because data is large in volume, comes in a variety of formats, and is scattered in multiple locations, it cannot be used as is, and must first be "integrated'' in advance. For engineers, "data integration" is a time-consuming task with many steps, but with "trocco" it can be accomplished in as little as 5 minutes. Additionally it offers Data Transformation, Data Orchestration, Reverse ETL features with additional Data Modelling Capabilities as well making it a unique offering with a complete support for ones Data Engineering needs.
"trocco" is used by a wide range of companies, from Tokyo Stock Exchange listed companies to startups. The number of companies utilizing trocco for their data needs have consistently maintained a growth of over 60% YoY for three years from November 2020 to October 2023. In February 2023, a free plan was launched to further support the initial steps of data utilization.
References:
(*1)Reference https://www.worldbank.org/en/news/press-release/2023/10/03/india-s-growth-to-remain-resilient-despite-global-challenges
(*2) Reference https://www.spglobal.com/marketintelligence/en/mi/research-analysis/india-seizes-crown-of-fastest-growing-g20-economy-dec23.html
(*3) Reference https://www.indembassy-tokyo.gov.in/eoityo_listview/Njg4
(*4) Reference https://www.jetro.go.jp/services/jhub/
(*5) SReference https://www.researchandmarkets.com/reports/5774613/big-data-market-in-india
(*6) Reference https://digitalindia.gov.in/
(*7) Reference http://indiastack.org/
- Overview of primeNumber Co., Ltd.
primeNumber is a data technology company. In an age of explosive growth in all kinds of data, we optimize the process of data utilization by helping build an environment where anyone can quickly and easily use data. We support businesses worldwide with advanced technologies and unique ideas.
- Company name
primeNumber Inc.
- Representative
Representative Director and CEO Yuki Tabe
- Date of Establishment
November 2015
- Office
〒141-0021
JR Tokyu Meguro Building 5F, 3-1-1 Kamiosaki, Shinagawa-ku, Tokyo
- Corporate website
- Business details
- Development and operation of the managed data platform "trocco"
- Providing consulting and engineering services to solve problems in the data technology domain
- Contact information for this release
primeNumber Co., Ltd.
Public Relations Officer Natsumi Murashima
e-mail：[email protected]
+81-03-6417-4050
Photo: https://mma.prnewswire.com/media/2368376/primeNumber_India.jpg
Share this article