Data Sutram is an AI-backed platform that gathers intel from external data to provide location-based data intelligence

In the face COVID-19 when startups are facing unprecedented challenges for survival, Data Sutram, a Kolkata-based early stage tech startup has raised funding of Rs 2 crore. The funding round was led by Indian Angel Network (IAN) angels Uday Sodhi, Mitesh Shah and Nitin Jain.

Established in 2018 by three Jadavpur University engineering graduates, Rajit Bhattacharya, Aisik Paul, and Ankit Das, Data Sutram is an AI-backed platform that gathers intel from external data to provide location-based data intelligence.

There is massive availability of valuable insights that lie in the form of unstructured data from multiple resources. These data need to be processed, cleaned, geotagged and converted into usable data that can be readily utilized by a business.

Data Sutram aims to resolve this problem as it uncovers raw data sources and calculates socio-economic parameters like demography, ethnicity, affluence, spending capacity, and a host of other parameters to understand a location.  The B2B focused startup helps a business by pinpointing new locations for a business to expand, improving the performance of existing assets (both physical and digital), and micro-targeting the right audience for the product. Starting at 12 data sources, the engine currently taps into over 200+ data sources in a span of 6 months to garner intelligence.

Speaking on the latest development, Uday Sodhi, Lead Investor at IAN said, “It is heartening to see start-ups such as Data Sutram using cutting-edge technology tapping unstructured data and insight to create innovative solutions for the B2B market. Its unique, tech-led approach is solving some of the most pressing problems for a large consumer base by developing a predictive analytics solution to help bridge the demand-supply gap. We hope our contribution will help the company realize its potential to the fullest and wish the founders continued success.”

Even in these testing times, the Location Intelligence platform has been working relentlessly to find out the availability of products by using multiple data sources and running its analytics engines to predict demand.

Rajit, Co-founder, Data Sutram said, “In a post coronavirus infected world, location has proved to be a crucial factor. Everyone is now more aware of location-based decision making like geo-fencing, geo-targeting, and the impact of location-specific action. When the 21-day lockdown was announced, a number of people went into panic buying. There was extensive shortages of essential goods across stores due to a surge in demand. With our ability to make use of unstructured data, Data Sutram’s platform helped companies to identify areas to deliver goods, ensuring the shortages were met and also increasing the market share. We are delighted to get IAN on board as an investor and will leverage the capital infusion to strengthen our platform in providing enhanced services to our consumers.”

At present the start-up is focused on retail-specific sectors such as pharmacy, FMCG and grocery, with plans of expansion into the BFSI, agritech, and media and entertainment in the future.

Earlier this year, Data Sutram was a part of the seed stage VC 100X VC’s first class  of 20 companies. Data Sutaram raised Rs 25 lakh from 100X.VC.

About Indian Angel Network:-

 Indian Angel Network is India’s first and world’s largest business angel network with close to 500 members across the world, comprising the who’s who of successful entrepreneurs and dynamic CEOs. With investors from 11 countries, IAN’s presence spans 7 locations, which includes cities in India and the UK.  The network is sector agnostic and has funded start-ups across 17 sectors in India and 7 other countries growing global footprint companies. With an excellent track record, IAN has been giving excellent cash exits year-on-year to its investor-members. Some of its marquee investee companies include WebEngage, Druva, Box8, Sapience Analytics, WOW Momos, Consure amongst many others.

The IAN Fund, an INR 375 crore fund, is a uniquely differentiated seed/early stage Fund which aims to transform India’s entrepreneurial landscape. The fund invests in innovative companies in sectors including healthcare and medical devices, VR, AI, software as a service, marketplaces, fin-tech, big data, artificial intelligence, agritech and hardware. The Fund leverages and builds upon the strengths and success of IAN, the world’s largest angel investor group, to breed and grow innovative companies.

Post a Comment

Previous Post Next Post
Like this content? Sign up for our daily newsletter to get latest updates.