India is the one of fastest-growing markets in Asia for real-time analytics and artificial intelligence observability platform Clickhouse, according to a top executive at the firm.
“On the revenue side, India would be one of the highest in Asia,” co-founder and chief technology officer Alexey Milovidov said in an interview with Mint. “While revenue would be behind the US and Europe, in southeast Asia and the APAC region, India wins just on scale.”
The database startup launched in India just eight months ago with a product engineering team and a smaller go-to-market team, and has several large enterprises and new-age tech companies as clients. These include InMobi, HighLevel, Zomato, Sony Liv, Finbox. Globally, the company’s clients include foundation model heavyweights such as Anthropic and OpenAI, as well as Tesla and Cloudflare.
Clickhouse’s push into India comes at a time when enterprises in the country are actively scouting for better deals on their data ecosystems, not to mention better efficiency. The company competes with giants such as Datadog, Databricks, and Snowflake in a market that is now moving its data into the cloud.
With AI becoming increasingly ubiquitous by the day, both enterprises and startups are looking for easy-to-access and efficient data retrieval systems that can power AI agents, observability pipelines, and large-scale data applications.
The market is large and growing, with an estimated size of $108.87 billion this year, according to Mordor Intelligence, and projected to triple to $438.4 billion by 2031 at a compound annual growth rate of 32%.
Growing pains in India
Milovidov said the company had seen more takers for its technology in India over the past two years, prompting it to set up shop here. This is in addition to the amount of developers hopping on to its open-source platform. “Open source is a great distribution channel. In India, companies were adopting us before we even set up a sales team here.”
The company’s ability to compete on price in India is part of the reason the country is emerging as its fastest-growing market in Asia. Its technology, which Clickhouse claims changes how database information retrieval works, is cheaper than that of its competitors such as Databricks and Datadog, which compete through aggressive discounts or by charging full prices in markets where they lack competitors.
However, sales cycles in India remain a point of friction for the San Francisco startup. While small and mid-market companies are happy with a 30-day trial period, large enterprises continue to demand 60-day trials. “Companies that are digital-native and do specific things, like fintech or food delivery, they’re faster,” said Milovidov. “But when it goes to large enterprises, we still observe long sales cycles. I think we’re just scratching the surface of this market.”
Clickhouse currently has a few hundred clients in India and aims to bring on thousands more, though it declined to provide timelines or specific targets.
US business booming
The Peak XV-backed company’s US business continues to accelerate, given Silicon Valley’s hyper-focus on all things AI. In fact, with venture capital investors writing more cheques for companies in the sector, there’s an added pressure for these startups to deliver value quickly. Milovidov noted that their product addresses this need for mid-sized companies, particularly those developing agentic AI solutions.
“When they adopt agents, it also affects infrastructure costs and token costs. Agents do more queries, agents are able to analyse data that was not accessible before. It’s why we’re seeing companies migrate to our tech stack,” he said.
The company was valued at $15 billion after it raised $400 million in a fresh round of funding in January, led by Dragoneer Investment Group. In the same round, Clickhouse announced the acquisition of Langfuse, an AI observability platform.
The round effectively doubled the company’s valuation from $6.35 billion when it raised $350 million in May 2025. Peak XV joined the company’s cap table in October 2025 as part of an extended Series C round that also brought in Citi Ventures, Insight Partners, and D.E. Shaw Ventures.
The company was spun out of Russian tech company Yandex in September 2021 and raised $50 million in its funding round from Index Ventures and Benchmark Capital. Less than a month later, Clickhouse achieved unicorn status with a $250-million Series B round led by Coatue Management, Altimeter Capital, and others at a $2 billion valuation. Other marquee investors on the company’s cap table include Khosla Ventures, Lightspeed Venture Partners, Bessemer Venture Partners and GIC.