Location intelligence start-up DataSutram has announced a $2.07 million in a funding round led by Varanium Capital and Yatra Angel Network. The round also saw participation from DMI Finance’s Sparkle Fund, White Ventures, Seeders LLP, a few angels, IIFL Fintech Fund and Indian Angel Network.
The Mumbai-based start-up provides sector-focused data packages that help companies acquire customers, understand the credit risk at an address level, open ATMs, branches, stores, plan resources. It gathers information from over 250 sources and channelise it to benefit its customers.
The start-up said it would use the proceeds to scale up its operations beyond India to South-East Asia and the Gulf region and further invest in new data sources.
Founded by Rajit Bhattacharya, Aisik Paul and Ankit Das, Data Sutram converts raw unstructured data from satellites, mobile phones, POS machines, and several other sources to create insights that capture how people live and behave, available for any location up to 100-metre granularity.
“The insurance, lending and banking sectors have been showing significant shifts in the last decade. This brings in a growing need for fintech and traditional companies to use alternative intelligence and enhance customer acquisition. We are addressing these challenges,” Aparajit Bhandarkar, Partner, Varanium NexGen Fund, said.
February 16, 2022