Indium Software, a Fast-Growing Digital Engineering Company, Records 78% Revenue Growth in FY21-22
Indium Software, a fast-growing Digital Engineering company, posted a 78% revenue growth achieving over INR.230 crores in revenue, in FY21-22, harnessing the strong demand for digital transformation services from clients across industries. About 75% of the revenue is from the U.S., with the remaining coming from Europe, Asia, and India. Indium provides a wide range of digital transformation services, spanning Application Engineering, Cloud Engineering, Data Engineering and Analytics, Digital Assurance, and Low Code Development.
“Indium has carved out a distinctive identity in the Digital Engineering space, adding increasing value to each of our client relationships. We will continue to sharpen our focus in these strategic areas and supplement the existing leadership team with more specialists to support our growth momentum.”
Commenting on this industry-leading performance, Mr. Ram Sukumar, Co-Founder & CEO, Indium Softwaresaid, “Indium has carved out a distinctive identity in the Digital Engineering space, adding increasing value to each of our client relationships. We will continue to sharpen our focus in these strategic areas and supplement the existing leadership team with more specialists to support our growth momentum.”
During FY 21-22, Indium further expanded its offering with investments in Cloud Data Management, Advanced Analytics, and Game Development, resulting in the number of strategic clients (those with a revenue potential of $5 million and more) tripling to 6. Indium also strengthened its partnership with an ecosystem of hyperscalers as well as Low Code and Cloud Data platforms, resulting in 31 percent of Indium’s revenue being cloud-based.
Indium’s IP-based solutions—such as teX.ai, an NLP-based text analytics platform, ibriX, a Databricks accelerator, and uphoriX, a smart test platform coupled with deep capabilities in Low Code and Gaming, have been propelling the revenue growth. Given the continued strong demand for digital transformation services and solutions, Indium expects to grow at a CAGR over 55 percent, targeting INR. 600 crores in revenue, by FY23-24.
Reinforcing on Indium’s strong “solutions focus,” Mr. Ram Sukumar added, “We will continue to accelerate our investments in R&D as well as in partnerships with platform providers such as Mendix, Striim, Databricks, AWS, GCP and Azure. We have also been leveraging our Digital Engineering DNA and niche Gaming expertise, to seed investments in emerging opportunities in Web 3.0, Blockchain, and Metaverse.” To fulfil the growing demand, Indium would hire over 1,000 experienced professionals and expand its campus hiring program to onboard more than 500 fresh graduates over the next 12 months.