Cambridge Technology Enterprises targets $50 mn revenue by 2020

 In Media 2017, Media Coverage

Hyderabad-based IT services company Cambridge Technology Enterprises (CTE) is setting a target of clocking $50 million revenues by 2020. The company which has a workforce of about 500 people globally, has crossed the revenues of Rs 100 crore. CTE plans to transform companies through Artificial Intelligence (AI) by offering AI as a Service (AIaaS) and is keen to bring global companies to India and help the resources base here getting educated and trained by the best in the industry on the latest cutting-edge technology.

CTE is an IT services company focused on cloud application development and management, data warehousing, business intelligence and analytics on the cloud. The company is going through the process of stabilising and consolidating its base to achieve the next phase of growth. It is focusing on the verticals and technologies that are more profitable and scalable. CTE has reinforced its US presence with offices in more than six cities (business for it being primarily US-centric) and expanding its offshore delivery centres in India across Hyderabad, Bengaluru and Chennai. It has also established presence in Philippines. The company moved its headquarters from Bengaluru to Hyderabad.

Aashish Kalra, chairman of Cambridge Technology Enterprises said, “Big Data fueled by AI and Machine Learning is the next natural resource. We are in the midst of the single largest technological revolution. We have spent the last few years in building an organisation to take advantage of this market.”

Over the next three years, on an average the company expects an annual revenue of $10 million approximately from each of its four growth drivers i.e. Cambridge Bigdata, Cambridge Bizserve, Cambridge DataScience and Cambridge Innovations. CTE will also explore inorganic growth opportunities in the areas of Big Data and Data Science.

Cambridge Bigdata is building and managing technologies for enterprise clients, Cambridge Bizserve provides data support and managed services for the applications that it builds, Cambridge DataScience assists CxOs make decisions by drawing substantial strengths in insights and data analytics while Cambridge Innovations works with US startups, helping it identify cutting edge technologies and attract the best talent to work with CTE.

“Through Cambridge Innovations, we plan to make 50 investments in the US-based startups as the US has a very defined market. We have invested in Anthill Ventures in India. Cambridge Innovations partially exited from one of the investee company, Roadzen. We aim to create many more global transformational companies out of India like Roadzen,” he informed.

Sector focus

The company has added a referenceable client in each of its six verticals spread across energy and utilities, life sciences and pharmaceuticals, industrials, BFSI and data infrastructure.

Kalra explained, “The use of transformative technologies to understand the complexities that arise from the combination of a variety of data from areas like clinical research and genomics could reveal completely innovative approaches to treatment of diseases.”

“Advances in disruptive technologies will see potential challenges in Energy sector getting resolved. Powerful computation models built on Big Data and Cloud can help reduce dependency on energy, availability, costs and consumption. Our clients in Energy include Schneider Electric, one of the world’s largest energy management and automation specialists,” he added.

Market opportunity

Kalra believes the convergence of Big Data and Cloud fueled by Artificial Intelligence (AI) and Machine Learning will be the next game changers and it will be a multi-trillion dollar opportunity.

“We are in the midst of the single largest technological revolution. In the years to come, enterprises will scale new heights by exploring this untapped data and extract incremental value. Big Data will affect almost all facets of our existence ultimately influencing the way enterprises chase growth, to positive effect. The last generation of trillion dollars were created out of traditional Indian IT technology businesses that were focused on back end and costs. The next trillions of dollars will be created by front end innovation driven technology companies focused on value.”

CTE is one of the few organisations in the world with a 100 percent AWS certified Cloud Operations Center with the ability to provide round the clock management of public, hybrid and private cloud architecture.

This article is originally published in telanganatoday.com.

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