Toronto-based startup Rubikloud Technologies Inc said it secured more than USD 1 million for its seed funding round. The fundraising was led by Horizons Ventures, MaRS Investment Accelerator Fund and unnamed private angel investors. Horizons Ventures is based in Hong Kong. It is the technology investment arm of Asia's wealthiest man, Li Ka-shing. The MaRS Investment Accelerator Fund gives seed financing to qualified startups in Ontario. It provides support to emerging companies in the province's priority sectors which include information technology, advanced materials and manufacturing, life sciences and cleantech.

Proceeds from the round will be used to scale the young company's engineering team. They want to hire creative and brilliant engineers with a penchant for solving challenging problems.

Rubikloud Technologies was established early this year by Kerry Liu, Daniel Theirl and Frank Thomas. By constructing a next generation big data platform, Rubikloud said it provides true business value by simplifying big data. Current technologies need too much infrastructure and take too long to process large volumes of data. However, Rubikloud streamlines the work, does the process in real time and shortens the processing time to mere minutes or seconds.

Rubikloud Technologies Chief Executive Officer Kerry Liu said, "No buzz words here. Everyone is claiming to be a big data company, but we ACTUALLY are. There is too much noise in the industry but once you cut through it, there is tremendous value for the end customer. We spoke to 30+ different companies before writing a single line of code. Our products will simplify the big data landscape and provide immediate business value for online businesses. Right now we're focused on scaling the team and delivering the best possible product to our early customers."

The company currently has half a dozen enterprise customers using their platform in private beta. Rubikloud intends to launch their product publicly in the New Year.