With GenAI, database firm MongoDB gets set for big India play
database company MongoDB sees a “great opportunity” in India as large banks, airlines and financial services companies here launch AI business models, a top company executive said.
Valued at about $30 billion, MongoDB counts Tata Digital, Tata AIG, Canara HSBC Life Insurance, Zomato, Devnagri, Ambee, Inovaare and Observe.AI among its key clients.
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Offering CollegeCourseWebsiteThe company, which posted a revenue of $1.68 billion in the last fiscal year, a 31% increase year-on-year, has partnered with cloud majors such as Amazon Web Services (AWS), Microsoft Azure and Google Cloud Platform (GCP), its global CEO Dev Ittycheria, told ET.
“We expect India to be one of the big growth engines in the future. We’re in the formative stage here. India is a great opportunity for us,” Ittycheria said.
“The big opportunity here is generative AI companies, large banks, commercial airline companies and financial services companies launching AI business models, leveraging advances with large language models like Devnagri, Ambee, Inovaare and Observe.AI,” he said.
There are around four million developers in India. About 20% of the Fortune 500 companies have development centres in India. There’s a burgeoning tech startup ecosystem as well, he said.
The company’s India team with offices in Gurugram, Bengaluru, Mumbai and Hyderabad are expanding and increasing their share in global headcount of 5,000, and the business is growing quickly as a function of growth opportunity here,
