JAKARTA (TheInsiderStories) – TigerGraph, an American-based provider of graphical analytics platforms, announced a fundraising of US$105 million in Series C funding. This funding round was led by Tiger Global and brought the total funding surpassed by $170 million. The provider has a presence in China and is currently opening offices in Singapore and Indonesia.
“The Asia Pacific digital economy continues to grow and we are seeing an increase in regional demand. To harness this potential and better serve our customers in Asia Pacific, we will open offices in Singapore and Indonesia, ”said Todd Blaschka, COO, TigerGraph, in an official statement released today.
He added, the company will use the Series C funding for product innovation and development, including TigerGraph Cloud on Google Cloud Platform (available March 2021), as well as further multi-region support on AWS and Azure. The tech firm is also expanding its global reach with local support in Asia, Australia, and New Zealand.
He said, over the past 12 months of the pandemic, companies have more rapidly embraced digital transformation, driving the need for finding new insights about their customers, products, services and suppliers. They also continued to build a very active and fast-growing developer community, receiving the highest market share in a recent analyst report.
“By 2023, graphics technology will facilitate rapid contextualization for decision making in 30 percent of organizations worldwide,” according to Gartner.
According to JLL, Asia Pacific’ data centre is poised to enter a new cycle of growth, led by the region’ larger emerging markets. Asia Pacific is home to three of the world’ four most populous countries (mainland China, India, and Indonesia), providing attractive locations and fueling a new cycle of operators and investors’ opportunities.
Surging internet usage and smartphone adoption, coupled with social media, e-gaming, video streaming, and big data applications, are all fueling requirements for extra data centre capacity across the region. According to JLL, demand for data centers continues to grow exponentially in Asia Pacific, drive by cloud computing and the consumer mobile internet.
The market for hosting, storage, and computing cloud services is expected to be worth US$163 billion in 2021, which is an almost 30 percent increase over 2017, says the report. Additionally, cloud traffic in Asia Pacific is set to grow by more than 150 percent over the same period.
“The sheer scale of growing data consumption makes data centre infrastructure a compelling global and regional opportunity for both investors and operators. There are clear opportunities across the Asia Pacific data centre sector, in both emerging and mature markets, as demographics and regulatory frameworks evolve,” says Bob Tan, senior director at JLL.
He revealed, investor and operator activities in mainland China, India, and Indonesia have grown significantly in recent months. They will further expand as demand for data centre services surges in these high-growth markets.
He also believed, that all three emerging markets are currently being underserved by existing supply and facing strong demand from local and international operators. Mainland China has more existing and upcoming supply than any other market in Asia Pacific, with significant investments and commitments announced over the past 18 months.
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