YourNest Angel Fund Invests in Proof of Performance Data Services
YourNest Angel Fund, an early stage venture capital firm has announced its first investment in Proof of Performance Data Services (PoP). The size of the investment is not disclosed.
The investment will be used for infrastructure facilities, product extensions, and technology adoption. With this investment PoP will strengthen its technology platform, Earthive.
Proof of Performance offers insights to decision makers based on Video Analytics from the archives of the real world videos, available on it’s cloud based platform, christened Earthive. These videos are captured through pre-defined drive-throughs within the city at regular intervals. The high definition videos and allied data such as GPS coordinates are then mined to extract the required business intelligence. The Earthive platform will use PoP’s patent pending data acquisition technology and use concepts of Video Analytics and Cloud Computing.
PoP has successfully demonstrated a use case for the Outdoor Advertising Industry, for media planning and monitoring. PoP provides a robust tamper-proof data for accountability and advanced analytics and measurements, as a neutral 3rd party service provider for the advertising & media industry.
The same set of videos will also be analyzed for other verticals, like Urban Development, Roads & Highways, Law Enforcement, for additional revenue streams such as market planning and urban development. In each of these areas, the PoP has an offering that seeks to change the way performance has been mapped and evaluated.
The company is a CIIE Portfolio company, was among the top 15 winners of The Economic Times Power of Ideas contest, 2010, and was seed funded by the Department of Science & Technology. Pranay Gupta, CEO of CIIE, is on the Board, as an Observer. Pranay said, “We are very glad to have YourNest join us in supporting the growth of Proof-of-Performance. Their immense operational experience shall be very useful in the current phase of the company.”
Subsequent to this investment, Sunil K Goyal has joined the board of Proof of Performance Data Services Pvt. Ltd, as a director. Sunil said “PoP demonstrated path-breaking use of technology and video analytics for decision makers. The entrepreneurial spirit in finding innovative solutions for multiple use cases encouraged us to rally behind this team. YourNest will support expanding operations across major cities in India and the international markets.”