Raj Radhakrishnan, CEO of Ciklum
Ciklum, a product engineering firm, is set to double its engineering workforce in India and scale its delivery centre operations here by opening two new facilities- a 15,000 sq. ft. office in Chennai and a 25,000 sq. ft. facility in Pune. The company is already present in these two cities but is now moving to larger space to accommodate increased hiring plans.
Ciklum employs over 4,000 professionals globally across its centres in India, Ukraine, Poland, Spain, Romania and other countries. It currently generates $225 million in annual revenue. The company helps its customers ideate and build products that can help them generate revenue.
“We are looking to diversify our delivery centre footprint and targeting to have almost one-third of its talent here in India. Ukraine’s talent is top notch and a lot of our customers also rate the work done by our team highly. The war has dampened things a bit, but it is still an important centre,” Raj Radhakrishnan, CEO of Ciklum, said. Last year, the company said it plans to invest around $40-50 million in the Indian market over the next few years.
Demand slowdown
Speaking about the demand slowdown being seen by IT sector, he said that while there is some stress in the system, there is a demand for nimble, mid-sized firms that can help companies in their critical tasks like new product development and streamlining operations, he added.
Ciklum provides AI-driven product engineering to global clients across industries such as BFSI, Retail & Consumer Goods, Hi-Tech, and Healthcare. The customers essentially engage Ciklum as they plan new product launch (digital or otherwise). The company helps them assess feasibility, helps in developing the product, and craft the user experience around it. It also assesses existing processes to streamline them with automation. Besides tech talent, Ciklum has a team of liberal arts professionals like sociologist and psychologists who help clients craft intuitive customer experiences.
Ciklum primarily serves the US, UK, Western Europe and Israel markets. EMEA currently contributes 80 per cent of the company’s revenue and the US 20 per cent, with the company aiming to grow its US business to almost 30 per cent share. Inorganic growth is also on cards for Ciklum, which is in advanced stages of closing a new acquisition to build its capabilities.
The company has also partnered with SRM Easwari Engineering College in Chennai to launch an innovation lab. This lab focuses on cutting-edge research and co-innovation in AI and Edge Tech, delivering solutions for global clients. A lot of the work for our global marquee clients is happening out of India today, Radhakrishnan said.
Published on April 23, 2025
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